/Tag: 2017 tax planning

Highlights of the new tax reform law

By |2018-04-09T23:34:23+00:00December 21st, 2017|Categories: News, Tax Cuts and Jobs Act|Tags: , , , , , , , , |

The new tax reform law, commonly called the “Tax Cuts and Jobs Act” (TCJA), is the biggest federal tax law overhaul in 31 years, and it has both good and bad news for taxpayers. Below are highlights of some of the most significant changes affecting individual and business taxpayers. Except where noted, these changes are [...]

Looming tax reform creates year end tax planning challenges

By |2017-10-26T18:45:12+00:00October 26th, 2017|Categories: News|Tags: , , , , , , , |

As the end of 2017 approaches, the prospect of dramatic tax reform could mean year end tax planning challenges for businesses. In late September, the Trump administration and Republican congressional leaders unveiled their Unified Framework for Fixing Our Broken Tax Code. The framework proposes reduced tax rates for businesses and changes to a variety of business [...]

Company Car Perk: Address the Tax Complexities

By |2017-05-24T13:42:01+00:00April 26th, 2017|Categories: Tax Planning|Tags: , , , , |

The perk of a company car isn't entirely "free" for employees. Generally, employees are taxed on the personal value of this fringe benefit, subject to certain special rules and annual limits. Significantly, the IRS recently announced the 2017 thresholds applicable for valuations of vehicles. Background Information An employer that provides taxable fringe benefits to employees is [...]

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