2019 Year End Tax Planning Opportunities
Now that both the initial and extended 2018 filing seasons have passed, it’s time to focus on 2019’s taxes and steps to take to leverage additional savings in the closing months of the year. There are steps that can be made now to improve a taxpayer’s position and create additional
Federal Judge Blocks Overtime Rule
On November 22, 2016, U.S. District Judge Amos L. Mazzant III granted a preliminary injunction to stop the mandatory overtime pay rule that was due to be implemented on December 1, 2016. A lawsuit was filed by 21 states and a coalition of businesses in September to block the Department
IRS Issues Tangible Property Regulations with Wide Implications
The IRS has issued final regulations giving guidance on capitalization versus expensing of costs, retirement of assets and proposed regulations on how to handle disposition of tangible property. These regulations have a wide impact that will have an effect on virtually anyone who owns tangible property. These rules are effective
Plan now for tax implications of healthcare reform
The Supreme Court’s recent decision to uphold the 2010 healthcare reform law has moved the fight from the courtroom to the polling stations. Healthcare reform will be a hot topic in the upcoming Presidential election, and ultimately the status of the Patient Protection and Affordable Care Act could change based
Unemployment surtax no longer in effect
A federal unemployment surtax expired last week after 35 years, providing business owners some modest relief in the face of rising state unemployment taxes. It is expected to save businesses about $14 per employee per year, for an overall savings of about $1.4 billion per year. The 0.2% federal unemployment