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Andrew Presti

January 2017 tax compliance calendar

January 2017 tax compliance calendar January 5 Employers. Semi-weekly depositors must deposit employment taxes for Dec 28–Dec 30. January 6 Employers. Semi-weekly depositors must deposit employment taxes for Dec 31 and Jan 1–Jan 3. January 10 Employees who work for tips. Employees who received $20 or more in tips during December must report them to […]

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Wayne Naegele

Brian M. Whelan, CPA, Admitted to Firm as Partner

We are pleased to announce that Brian M. Whelan, CPA has been admitted to the firm as a partner. Brian, who has worked with the firm for more than 12 years, becomes the firm’s fifth partner. In addition to his experience in public accounting at Presti & Naegele, Brian gained experience in the private sector […]

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December Newsletter

Wayne Naegele discusses, “What to expect on 2016 Form 1040: Key changes”, while Steve Grgas discusses, “2016 year-end tax strategies with tax cuts on the horizon”.

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Salvatore Russo

Major tax changes expected under Trump Administration

Major tax changes expected under Trump Administration One month after the presidential election, taxpayers are learning more about President-elect Donald Trump’s tax proposals for his administration. Although exact details, including legislative language, are likely months away, taxpayers have a snapshot of the president-elect’s tax proposals for individuals and businesses. Note. At the time this article […]

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Steve Grgas

2016 year-end tax strategies with tax cuts on the horizon

2016 year-end tax strategies with tax cuts on the horizon The likelihood exists that federal tax-cut legislation will become law sometime in 2017. Nevertheless, the possibility also remains that comprehensive tax legislation may be delayed until 2018 either because of difficult negotiations or intervening events, or it could eventually even get tabled indefinitely, except for […]

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Wayne Naegele

What to expect on 2016 Form 1040: Key changes

What to expect on 2016 Form 1040: Key changes Each new filing season may bring changes to the Form 1040, U.S. Individual Income Tax Return, as well as draft instructions for Form 1040 and any related Schedules, and this year is of no exception. The following highlights some of the changes to 2016 Form 1040, […]

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Salvatore Russo

FAQ: How is virtual currency taxed?

FAQ: How is virtual currency taxed? Virtual currency – often referred to as ‘bitcoin” — is a mystery for many people but an everyday currency for others. As virtual currency grows in popularity, questions arise about its taxation. The IRS treats virtual currency as property and not as currency. This means that general tax principles […]

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Salvatore Russo

How do I? Figure the child care credit

How do I? Figure the child care credit Child care can undoubtedly prove to be a costly expense for any taxpayer. In some instances, taxpayers must weigh whether the cost of child care is a deterrent to returning, or, in some cases, entering the workforce. Although the IRS may not be able to control market […]

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Salvatore Russo

December 2016 tax compliance calendar

December 2016 tax compliance calendar As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of December 2016.  December 2 Employers. Semi-weekly depositors must deposit employment […]

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November newsletter

Sal Russo discusses, “Congress returns for year-end tax legislation push”. Andrew Presti discusses, “Natural disaster tax relief and preparednes”.

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