by Mark Thomson | Jan 15, 2019 | What I have to Say
In an IRS Legal Advice issued by Field Attorneys employee bonuses paid after year end (within 2 and ½ months) that are accrued as of the year-end could be deductible in the year paid instead of the year accrued. Basically, if the amount is not fixed and the right to...
by Mark Thomson | Jan 15, 2019 | What I have to Say
The Internal Revenue Service has released the final regulations for the 0.9 percent Additional Medicare Tax that was imposed as part of the Affordable Care Act. The final regulations that were released last week more or less adhere to the proposed regulations that...
by Mark Thomson | Jan 15, 2019 | What I have to Say
Although the American Taxpayer Relief Act (enacted in January of this year) added or extended several key tax provisions and rates, dozens of tax provisions are set to expire at the end of 2013 (though most relate to businesses, if you have a pass through entity you...
by Mark Thomson | Jan 15, 2019 | What I have to Say
As Americans across the country rang in the new year, many were unaware that, at midnight, more than 50 different tax breaks expired. According to the Tax Foundation, among them were credits for everything from building motorsports facilities, producing biofuels,...
by Mark Thomson | Jan 15, 2019 | What I have to Say
We are now solidly into 2014, so it’s time to start thinking about your 2013 tax bill. One big question to be answered is whether you will owe the dreaded alternative minimum tax with your 2013 Form 1040. Congress originally cooked up the alternative minimum tax (AMT)...
by Mark Thomson | Jan 15, 2019 | What I have to Say
For most of us, tax day comes just once a year—on or around April 15. But for people who owe estimated taxes, Uncle Sam expects a check four times a year. Unfortunately, one of those poor quarterly taxpayers may be you if any of the following applies to your...
