Tax Law Update

Posted December 27, 2017 / No comments

The Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, contains a treasure trove of tax breaks for businesses. Overall, most companies and business owners will come out ahead under the new tax law, but there are a number of tax breaks that were eliminated or reduced to make room

Posted December 19, 2017 / No comments

As you know, both houses of the US Congress are considering proposed changes to the Federal Income Tax.  While nothing is final, one change under consideration would limit the deduction for local property taxes to $10,000 per year.  We bring this to your attention so that you (and your colleagues) can discuss it with your

Posted January 27, 2015 / No comments

NEW myRA There are millions of workers in America who either don’t have access to an employer-sponsored retirement plan or lack options to save for retirement. In some cases, they don’t have enough money saved to meet a minimum for opening an investment account. The United States Treasury developed myRA to address some of these

Posted January 10, 2015 / No comments

The Affordable Care Act – How does it impact my 2014 tax return? Beginning in 2014 individuals and their dependents are required to have health insurance as a result of the Patient Protection and Affordable Care Act. If you (and your entire family, if applicable) had health insurance the entire year there will be little

Posted December 10, 2014 / No comments

The Tax Increase Prevention Act of 2014 will extend for one year tax provisions will expire on December 31, 2014 The House passed late Wednesday by 378-46 vote H.R. 5771, the Tax Increase Prevention Act of 2014, which could extend a massive package of expired tax breaks through the end of the year. The bill would

Posted November 10, 2014 / No comments

Year End Tax Planning 2014 Year-end tax planning is especially challenging this year because Congress has yet to act on a host of tax breaks that expired at the end of 2013. Some of these tax breaks may be retroactively reinstated and extended, but Congress may not decide the fate of these tax breaks until