Year-end tax planning this year will be just as complicated as it was last year because of uncertainty surrounding many expired tax breaks for individuals and businesses. Tax legislation signed into law last December extended several expired breaks, but only … Continue reading
The IRS has issued its cost-of-living adjustments for 2016. Inflation remains low, so many amounts are the same as last year, and those that did increase did so only modestly. Nonetheless, it’s helpful to know the 2016 amounts as you … Continue reading
On Oct. 30, the IRS issued its cost-of-living adjustments for 2015. In a nutshell, with inflation remaining in check, many amounts increased only slightly, and some stayed at 2014 levels. As you implement 2014 year-end tax planning strategies, be sure … Continue reading
In order to avoid federal estimated income tax penalties for the 2013 tax year, an individual taxpayer must make estimated federal tax payments equal to their “required annual payment.” The required annual payment generally is the lesser of 100% of … Continue reading
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