Category: Tax laws

Does Current Tax Law Requires Health Insurance?

Current tax law and health insurance

Current Tax Law and Health Insurance During his first week in office, President Trump signed an executive order asking federal agencies to reduce the economic burden the Patient Protection and Affordable Care Act (ACA) puts on American citizens.

Tax Rules Affecting Your 2016 Federal Income Tax Return

Tax rules 2016

Are you up-to-date on the tax rules affecting your 2016 return? Here’s a quick review of some of the rules you can expect to encounter when you get ready to prepare your 2016 federal income tax return.

Medicare Surtax and What You Need to Know

Prepare for the Medicare surtax in your 2014 planning The new 3.8% Medicare surtax on net investment income (NII) appears to be here to stay. If this tax caught you by surprise when you filed your 2013 tax return, you

Estimated Tax Payments – News to Avoid Penalties

Do you need to make estimated tax payments? Many taxpayers have income on which there is no withholding, such as interest, dividends, rental or royalty income, or business income. If this is your situation, you’ll want to see if you’re

Tax Tips: When are you required to file a gift tax return?

Are you planning to give sizeable gifts to family members? Due to generous provisions in the tax code, you may not owe any federal gift tax, but you still might be required to a file a gift tax return. Here’s

Straight talk on carrybacks and carryforwards

The timing of taxable income and deductions for federal income tax purposes is relatively straightforward. Generally, income is taxable in the year it is earned and received…

New law repeals expanded 1099 reporting rules

On April 14, 2011, President Obama signed legislation — the Comprehensive 1099 Taxpayer Protection

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Check the new rules for 2011 tax planning opportunities

Sunset was postponed last December, at least in the world of taxes. Many existing laws, which had been due to expire, or "sunset" at the end of 2010, were extended through 2012. At the same time, new rules that can impact your tax planning came into effect. With so many changes, you will want to make
sure you…

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New law delays return filing

If you itemize deductions or claim any of three restored deductions (for state and local sales tax, higher education tuition, or educator expenses), you must wait until

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New law extends Bush-era tax rates for two years

After weeks of wrangling over the details, both the Senate and the House passed a bill that will extend the tax rates in effect in 2010 for another two years, through December 31, 2012. President Obama signed…