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Client News
Presti & Naegele Client, Castlerock, Opens New 453 Room Westin Nashville Hotel.
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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
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Major tax changes expected under Trump Administration
One month after the presidential ... Read More
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FAQ: How is virtual currency taxed?
Virtual currency - often referred to as "bitcoin" ...
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How do I? Figure the child care credit
Child care can undoubtedly prove to be a costly expense for ...
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December 2016 tax compliance calendar
As an individual or business ...
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Presti & Naegele
Contact us at:
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What to expect on 2016 Form 1040: Key changes
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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, its Schedules and other Forms, which can be found on the IRS website at www.irs.gov. The draft Form 1040 and Instructions are expected to track what will appear in the final Form 1040 and Instructions this year since "tax extenders" common to past years have either been made permanent or run through 2016. Any year-end tax legislation from Congress likely will have a prospective impact only, into tax year 2017 and beyond.
Filing deadline
The filing deadline for 2016 individual income tax returns moves to Tuesday, April 18, 2017, because of the Emancipation Day holiday in the District of Columbia. As with previous filing seasons, taxpayers are afforded an automatic six-month extension by either filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, or by making an electronic ...Read More
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2016 year-end tax strategies with tax cuts on the horizon
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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 a few provisions, if momentum turns to other matters. The contents of a tax bill, too, can vary - from a compromise between the House GOP's "Better Way" blueprint and President-elect Trump's tax plan as set forth during his campaign-to a significantly rewritten version if Senate Democrats and fiscally conservative House and Senate members are able to gain seats at the negotiating table.
What should a taxpayer do now, before the 2016 tax year ends, to take advantage of ... Read More
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