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Latest Tax Alerts

Check out the latest tax alert section of our website, full of links and articles for professional and personal tax news. Read More


Private tax collection poised for possible return

Tucked into the pending highway and ... Read More


How Do I? Compute payroll taxes as an employer

A business that has employees must withhold ...
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FAQ . . . Can an S corporation own an interest in another business entity?

An S corporation can own an interest in another ...
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December 2015 tax compliance calendar

December 2015 tax compliance calendar ...
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Last-minute tax planning strategies to consider as the 2015 tax year closes

 

Joseph Romano, Partner In between preparing for the year-end holidays, school vacations, travel, work, and so on, tax planning should not be on the back burner. Although 2015 is quickly coming to a close, there is still time, with careful planning, to execute some last minute tax strategies. In many cases, these strategies can help minimize the tax burden. Of course, every individual's situation is different, so please contact our office for specific details about a year-end tax planning strategy customized to you.

Extenders

For many taxpayers, one of the most significant questions looming over 2015 returns is will they be able to claim all the deductions, credits and incentives that were available in 2014? Many of these incentives are grouped in a package known as the tax extenders. If you have taken in... Read More




Budget Act raises revenue with new tax compliance measures for partnerships, other changes

 

Salvatore V. Russo, CPA The new Bipartisan Budget Act of 2015, signed into law by President Obama in November, makes some far-reaching changes to partnership audits along with repealing automatic enrollment in health plans under the Affordable Care Act (ACA). The new law is a good preview of how Congress is looking to enhanced tax compliance as a revenue raiser. The tax compliance measures in the budget law, largely targeted to partnerships, are projected to generate more than $10 billion in revenue over 10 years.

TEFRA repeal

More than 30 years ago, Congress passed the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA). The law was intended to help the IRS better audit partnerships. For many yearse ...Read More




    



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