Dec 3, 2015 | Tax Planning and Preparation
As 2015 draws to a close, there are some important items to keep in mind when putting together information for 2015 W-2’s. Company provided vehicle: If your company provides you, or any employee, with a company vehicle that is also used personally, you should include...
Dec 2, 2015 | Tax Planning and Preparation
Clients want the most deductions they can get on their returns- of course, understandable- but many deductions clients provide are not allowable tax deductions. They will debate- but ultimately these ‘deductions’ will not show up on their returns....
Nov 19, 2015 | Tax Legislation, Tax Planning and Preparation
In an effort to standardize the way the administration enforces the FBAR (Foreign Bank Account Report) rules and penalties, the IRS recently produced an internal memorandum to facilitate consistency in this area. Among other things the IRS’ internal memo details are...
Nov 2, 2015 | Tax Planning and Preparation
With less than two months left for Congress to act on passing 2015 tax legislation, and moving even more slowly than last year regarding extender provisions, it’s a prudent time to consider tax planning options based on the law as it stands for 2015. Deferring income...
Oct 13, 2015 | Helpful Articles, Tax Planning and Preparation
A client asked us the other day if she could deduct costs she has incurred to repair damage to her home following the severe storms this past winter. Damage to property resulting from severe storms like those we experienced this past winter in New England are...
Aug 4, 2015 | Tax Planning and Preparation
As states face record deficits, they are looking to increase revenues through the enforcement of income tax nexus laws. For state tax purposes, “nexus” generally means the minimum level of contact a taxpayer must have with a jurisdiction to become subject to a state’s...
