Close is Not Good Enough with New Reporting Rules

2016-08-24T00:23:44-04:00June 23rd, 2016|

The old adage "close only counts in horseshoes" is an accurate reflection of the new IRS information reporting rules. Beginning with 2016 returns, due dates for Forms W-2 and certain Forms 1099 have been moved up, and the penalties for late or inaccurate forms have substantially increased. Here are the new filing deadlines for 2016 [...]

Deter Identity Theft with Fraud Alerts and Security Freezes

2019-07-02T20:51:16-04:00March 23rd, 2016|

If a fraudster steals your identity, you may find yourself embarking on an unpleasant journey to recover your good name and pilfered finances. Fortunately, tools are available to prevent and minimize potential losses. Here are two options to consider if you suspect your personal data has landed in the wrong hands. Fraud alert. Say you [...]

Start Planning for Next Year’s Taxes Using This Year’s Return

2016-05-23T00:59:33-04:00March 23rd, 2016|

Whew! You filed your return and now you're ready to forget all about taxes until next year. Not so fast! Your 2015 tax return is a great tool to help you plan for 2016. Here's what to look at. Review your withholding. If you owed tax this year or received a large refund, consider adjusting [...]

TAX NEWS — 2016 Changes to Note

2019-07-02T20:51:16-04:00February 23rd, 2016|

Effective beginning with 2016 taxable years, the de minimis tangible property safe harbor has increased to $2,500 per invoice or item. The change affects regulations issued in 2013 that clarified when your business could expense tangible real and personal business property. Previously, the de minimis safe harbor let you elect to deduct individual capital expenditures [...]