November 2015

Small businesses score victory with PACE Act, wait for fix on health reimbursement arrangements

Small businesses received some welcomed news in October with passage of the Protecting Affordable Read more [...]

How Do I…Shift Taxable Income into 2016?

As the calendar approaches the end of 2015, it is helpful to think about ways to shift income and Read more [...]

FAQ: When is Equipment “Placed in Service”?

For a business to start writing off the cost of depreciable equipment and property, it is necessary that Read more [...]

FAQ…Can I deduct the cost of sending my child to summer camp?

Now that summer 2015 is officially here and the main filing season is out of the way, tax planning may Read more [...]

FAQ: When must individuals pay estimated taxes?

Many federal income taxes are paid from amounts that are withheld from payments to the taxpayer. For Read more [...]

November 2015 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting Read more [...]

IRS Raises Tangible Property Expensing Threshold to $2,500

accountingtoday.com The Internal Revenue Service is simplifying the paperwork and recordkeeping requirements Read more [...]

How Do I…Shift Taxable Income into 2016?

As the calendar approaches the end of 2015, it is helpful to think about ways to shift income and deductions Read more [...]

IRS promises more identity theft protections in 2016 filing season

After acknowledging earlier this year that hackers breached one of its popular online apps, the IRS has Read more [...]

Clock ticks down to year-end passage of tax extenders for individuals and businesses

As 2015 winds down, another temporary extension of the tax extenders appears almost certain. Despite Read more [...]

IRS takes aim at employment tax compliance

The current likelihood that your business will become involved in an employment tax audit or an employment-related Read more [...]

ABC Woods Ovaitt Donation

November 18, 2015: Tim Flaherty (far right) at a check presentation from Woods Oviatt Gilman LLP to Read more [...]

Keeping good records for tax season and beyond – some guidelines

Good recordkeeping is essential for individuals and businesses before, during, and after the tax filing Read more [...]

The tricky distinction between employees and independent contractors

In light of the IRS’s new Voluntary Worker Classification Settlement Program (VCSP), which it announced Read more [...]

How do I? Compute withholding using the part-year employment method

Employers generally withhold from wages by way of the wage-bracket or percentage method (Code Sec. 3402(b) Read more [...]

Treasury, IRS get moving on ABLE account rules

Late in 2014, Congress passed and President Obama signed into the law the Achieving a Better Life Experience Read more [...]

How the IRS resolves an identity theft case

The IRS has responded to criticism from the Treasury Inspector General for Tax Administration and the Read more [...]

How do I? Comply with the Affordable Care Act’s individual mandate?

Beginning January 1, 2014, the Affordable Care Act (ACA) required individuals to carry minimum essential Read more [...]

FAQ: What is the new de minimis safe harbor for tax expensing?

Businesses generally want to write off costs more quickly, to reduce their taxable income and their tax Read more [...]
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