Posts Tagged ‘irs’

Tax Planning Newsletter

Tax Planning Newsletter

  • Agency News

It’s time to call Wilke & Associates, Pittsburgh’s leading CPA Firm for 2017 Year-End Tax Planning! Now’s the time to wrap up 2017 and make considerations for year-end capital investments to reduce your tax liability or make fiscal changes to your 2018 budget. By incorporating your 2017 financial data and…

UPCOMING TAX DEADLINE DUE DATES

  • In the News

Major Tax Deadlines for September 15, 2017 September 15 – Third quarter installment of 2017 individual estimated income tax is due. September 15 – Filing deadline for 2016 tax returns for calendar-year corporations that received an automatic extension of the March 15 filing deadline. September 15 – Filing deadline for 2016 partnership tax…

January 2017 Major Tax Deadlines

January 2017 Major Tax Deadlines

  • In the News

Major Tax Deadlines for January 31, 2017 Employers must provide 2016 W-2 statements to employees. Employers must send W-2 copies to the Social Security Administration. Payers must provide 2016 Form 1099s to payees. (Brokers have until February 15 to provide Form 1099-B and consolidated statements to customers.) Payers who report…

Deduction Income vs Sales Tax

Deduction Income vs Sales Tax

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Deduction for state and local sales tax benefits some, but not all, taxpayers The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes was made “permanent” a little over a year ago. This break can be valuable…

2017 New Year Tax Planning Newsletter

2017 New Year Tax Planning Newsletter

  • In the News

New Year 2017 Tax Planning Newsletter It’s time to call Wilke & Associates, Pittsburgh’s leading CPA Firm for 2017 New Year Tax Planning! As 2017 Tax Planning begins, the following issues should be considered: Tax reform is a strong possibility. Individual, business, and estate tax rules are under consideration. The…

Deductions Documentation and Expenses

Deductions Documentation and Expenses

  • Agency News

Documentation is the key to business expense deductions If you have incomplete or missing records and get audited by the IRS, your business will likely lose out on valuable deductions. Here are two recent U.S. Tax Court cases that help illustrate the rules for documenting deductions. Case 1: Insufficient records…

Tax Strategies to Retain Wealth

Tax Strategies to Retain Wealth

  • Agency News

3 Strategies for Tax-Smart Giving Giving away assets during your life will help reduce the size of your taxable estate, which is beneficial if you have a large estate that could be subject to estate taxes. For 2016, the lifetime gift and estate tax exemption is $5.45 million (twice that…

Tax Credits for Homeowners

Tax Credits for Homeowners

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There’s still time for homeowners to save with green tax credits The income tax credit for certain energy-efficient home improvements and equipment purchases was extended through 2016 by the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act). So, you still have time to save both energy and…

Tax Consequences of a Home Sale

Tax Consequences of a Home Sale

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Understand the tax consequences of a sale – What you should know by  putting your home on the market? As the school year draws to a close and the days lengthen, you may be one of the many homeowners who are getting ready to put their home on the market. After…

Your Retirement Plan and Taxes

Your Retirement Plan and Taxes

  • In the News

Unexpected retirement plan disqualification can trigger serious tax problems It’s not unusual for the IRS to conduct audits of qualified employee benefit plans, including a retirement plan like a 401(k). Plan sponsors are expected to stay in compliance with numerous, frequently changing federal laws and regulations. For example, have you…

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