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June 2018

Section 199A Passthrough Guidance Expected in July, Kautter Says

The IRS expects to issue guidance on the Code Sec. 199A passthrough deduction in July, Acting IRS Commissioner Read more [...]

Focus Remains on Tax Reform

Congressional lawmakers on Capitol Hill continue to focus on tax reform. Republicans and Democrats alike Read more [...]

Mnuchin, Kautter Testify Before Senate Committee on Outdated IRS Technology

The IRS’s "Achilles’ heel" is using outdated software originating from the 1960s, Acting IRS Commissioner Read more [...]

Regs Clarified In Response to Suit Over ACA Emergency Services Rules

The Treasury Department and the IRS, along with the Department of Labor and the Department of Health Read more [...]

IRS Outlines New Five-Year Strategic Plan

The IRS has issued a new five-year strategic plan to guide its programs and operations and to help meet Read more [...]

LB&I Rolls Out Additional Issue-Based Compliance Campaigns

The IRS Large Business and International (LB&I) Division has identified and selected six additional compliance Read more [...]

Life Insurance Transfer Transition Guidance Planned

The IRS intends to provide guidance on the new information reporting obligations for certain life insurance Read more [...]

May 2018

2018 Best of Accounting Award

Flaherty Salmin CPAs Earns Inavero’s 2018 Best of Accounting™ Award for Client Service Excellence ROCHESTER, Read more [...]

White House Remains Focused on Tax Reform – Phase Two

The White House and Republican lawmakers are continuing discussions focused on a second round of tax Read more [...]

IRS Chief Outlines Tax Reform Implementation

The IRS is already working on implementing tax reform, according to IRS Acting Commissioner David Kautter. Read more [...]

New Law Clarifies Partnership Audit Rules

Technical corrections to the partnership audit rules were included in the bipartisan Consolidated Appropriations Read more [...]

March 2018

2018 Top Workplaces Award

The Rochester Democrat and Chronicle Names Flaherty Salmin CPAs A Winner Of The Rochester 2018 Top Workplaces Read more [...]

Chili Cook-off February 12, 2018

The Firm’s annual Chili Cook-off was once again big success! Thank you to everyone who brought in their Read more [...]

Happy Pi Day 2018!

Having an argument with homemade pi just goes around in circles…

IRS Posts Best Practices For Individual Mandate

The IRS has posted best practices for return preparers addressing the Affordable Care Act’s individual Read more [...]

Additional Partnership Audit Regs Tackle Basis/Capital Accounts

New proposed regulations under the centralized partnership audit regime address how and when partnerships Read more [...]

February 2018

How do I? Calculate bonus depreciation under the new tax law?

The Tax Cuts and Jobs Act increases bonus depreciation rate to 100 percent for property acquired and Read more [...]

President signs bill delaying three ACA taxes

President Trump signed legislation on January 22 to delay the medical device excise tax, the health insurance Read more [...]

IRS instructs employers to use new withholding tables

Much-anticipated withholding tables for 2018 have been posted by the IRS. While the new withholding Read more [...]

January 2018

FAQ: Can I still convert regular IRAs into Roth IRAs?

Yes, conversions from regular (traditional) tax-deferred individual retirement accounts (IRAs) to Roth Read more [...]

How Do I? Use Section 529 plans for elementary and secondary school tuition

The Tax Cuts and Jobs Act modifies Section 529 qualified tuition plans to allow the plans to distribute Read more [...]

Top 10 tax developments with impact on 2018

The start of a New Year presents a time to reflect on the past 12 months and, based on what has gone Read more [...]

Standard mileage rates increase, while higher depreciation limits kick in

The IRS has released the 2018 optional standard mileage rates to be used to calculate the deductible Read more [...]

December 2017

FAQ: What is a change-of-accounting for IRS purposes?

The method and systems by which a taxpayer calculates the amount of income, gains, losses, deductions, Read more [...]

November 2017

FAQ: How does a business handle holiday gift-giving?

Holiday gifts made to customers are generally deductible as ordinary and necessary business expenses Read more [...]
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