December 2015

Private tax collection poised for possible return

Tucked into the pending highway and transportation spending bill is a provision authorizing the IRS to Read more [...]

Employee Promotions December 2015

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Cyber Security Training

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Last-minute tax planning strategies to consider as the 2015 tax year closes

In between preparing for the year-end holidays, school vacations, travel, work, and so on, tax planning Read more [...]

How Do I? Compute payroll taxes as an employer

A business that has employees must withhold income taxes on payments to each employee. Each employee Read more [...]

FAQ . . . Can an S corporation own an interest in another business entity?

An S corporation can own an interest in another business entity. It can also be a partner in a partnership Read more [...]

December 2015 tax compliance calendar

December 2 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates November Read more [...]

Flaherty Salmin CPA employees attend Buffalo Bills game 12/6/15

Bills win 30-21 against the Texans.

FAQs: What are AFRs for tax purposes?

The applicable federal rates (AFRs) are used for a number of federal tax provisions. For example, Code Read more [...]

FAQ: What is new Form 1095-A, Health Insurance Marketplace Statement

Form 1095-A, Health Insurance Marketplace Statement, is a new information return. The IRS requires the Read more [...]

How Do I? Follow the new-for-2015 one-IRA rollover-per-year limit?

As most people know, a taxpayer can take a distribution from an IRA without being taxed if the taxpayer Read more [...]

IRS auditors place more focus on partnerships as use of the entity increases

IRS officials, including Faris Fink, then Commissioner of the Small Business and Self-Employed Division, Read more [...]

How do I . . . Change my tax withholding?

An employer must withhold income taxes from compensation paid to common-law employees (but not from compensation Read more [...]

FAQ: Are employer-provided meals deduction/income?

Every year the IRS publishes a list of projects that are currently on its agenda. For example, the IRS Read more [...]

New look to TINs/EINs to prevent identity theft/refund fraud

The IRS continues to ramp-up its work to fight identity theft/refund fraud and recently announced new Read more [...]

FAQ…do I need a receipt for every gift to charity

The IRS requires that taxpayers substantiate their donations to charity. Whatever the donation is, whether Read more [...]

How do I…Protect against tax-related identity theft?

The IRS expects to receive more than 150 million individual income tax returns this year and issue billions Read more [...]

Liability for the “nanny” tax

Employers of course have to pay employment taxes on the wages they pay to their employees. A nanny who Read more [...]
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