Tax

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Team Member Spotlight: Mike McCreary

Service Group: Accounting & Financial Outsourcing and Tax Years with Dean Dorton: 9 Years in Accounting Industry: 22 Favorite thing about Dean Dorton: My favorite things are the people (both clients and staff) and the relationships I have [...]

January 11th, 2017|Tax|

Employee vs. Contractor

Third party relationships have become more important as companies look to leverage outside expertise. As relationships evolve, management needs to keep a close eye to determine if the third party contractor has become [...]

2017 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply [...]

January 9th, 2017|Tax|

Why Making Annual Exclusion Gifts Before Year End Can Still Be a Good Idea

A tried-and-true estate planning strategy is to make tax-free gifts to loved ones during life, because it reduces potential estate tax at death. There are many ways to make tax-free gifts, but one of the [...]

December 30th, 2016|Tax|

Few Changes to Retirement Plan Contribution Limits for 2017

Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2017. The only limit that has increased from the 2016 level is for contributions to [...]

December 29th, 2016|Tax|

IRS Extends 1095-C and 1095-B Deadline

In November, the IRS extended the deadline for employers to furnish Forms 1095-C and/or 1095-B to employees and covered individuals. The forms, which are required under the Affordable Care Act’s employer reporting mandate, are [...]

Want to Save for Education? Make 2016 ESA Contributions by December 31

There are many ways to save for a child’s or grandchild’s education. But one has annual contribution limits, and if you don’t make a 2016 contribution by December 31, the opportunity will be lost forever. [...]

December 20th, 2016|Tax|

Can You Pay Bonuses in 2017 but Deduct Them This Year?

You may be aware of the rule that allows businesses to deduct bonuses employees have earned during a tax year if the bonuses are paid within 2½ months after the end of that year (by [...]

December 15th, 2016|Tax|

Municipal Market Potentially at Risk with Trump Infrastructure Plan

With the upcoming changes in the political arena, interest on municipal bonds is at risk of becoming subject to federal income taxation. Under the current U.S. tax code, when investors lend money to local [...]

December 15th, 2016|Tax, Uncategorized|

Some Tax Rates and Amounts for 2017

FICA base — Annual compensation to which Social Security tax applies is $127,200 for 2017 (up from $118,500 for 2016). Social Security benefits — Individuals who are drawing Social Security benefits prior to attaining [...]

December 15th, 2016|Tax, Uncategorized|