By Steve Brillion, CPA, Partner, Warady & Davis LLP If you own or manage your own business, you’re probably busy monitoring operations and dealing with everyday problems. But there are a few things that you should make time to do…
On December 18, President Obama signed into law the bipartisan Protecting Americans from Tax Hikes Act of 2015 (the PATH Act). We have experienced numerous, last-minute extender packages in the past, but this one is significant. In 2014 Congress passed…
Although 2015 is quickly coming to a close, there is still time, with careful planning, to execute some last minute tax strategies. In many cases, these strategies can help minimize the tax burden. Of course, every individual’s situation is different,…
As October 19-25 is National Estate Planning Awareness Week, it’s a good time to ensure your estate plan is current and comprehensive. Although it is often overlooked, including a digital estate plan that addresses financial and social digital assets is…
President Obama signed the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 on July 31. The Act revises some important return due dates, overrules a Supreme Court tax decision, revises the employer shared responsibility requirements in the…
W&D Spotlight – Sean Snowden, MBA, CVA, Managing Member – W&D Consulting LLC Sean Snowden, MBA, CVA, is the Managing Member and Director – Business Valuation Services at W&D Consulting LLC, an affiliate of W&D which specializes in business valuations…
The mortgage interest deduction is widely used by the majority of individuals who itemize their deductions. In fact, the size of the average mortgage interest deduction alone persuades many taxpayers to itemize their deductions. It is not without cause, therefore,…
Congress returns to work in September with a full agenda of tax legislation. Lawmakers will search for revenue to pay for a long-term federal highway and transportation bill, debate the fate of popular but temporary tax breaks, and decide…
The Supreme Court’s decision in Obergefell v. Hodges (2015-1 ustc ¶50,357) on June 26, 2015 continues what was set in motion in 2013: the expansion of tax benefits to same-sex married couples. In Obergefell, the Court ruled 5 to 4…
After months of waiting, the U.S. Supreme Court announced its decision on the fate of the Code Sec. 36B premium assistance tax credit on June 25 in King v. Burwell, 2015-1 ustc ¶50,356. In a 6 to 3 decision, the…
In addition to his 40 years of experience in a broad range of public accounting, financial and tax services, Warady & Davis LLP Partner, Ron Zweig, CPA, RIA, has a successful, respected investment advisory practice, R S Zweig Financial Advisors…
Late in 2014, Congress passed and President Obama signed into the law the Achieving a Better Life Experience (ABLE) Act. The new law, which enjoyed strong bipartisan support, authorizes the creation of tax-favored accounts for qualified individuals challenged by disabilities.…
It is never too early to begin planning for the 2016 filing season. Although the current filing season has just ended, there are steps that taxpayers can take now to avoid a tax bill when April 2016 rolls around. For…
Congress returned to work in April after a two week recess and the House immediately passed a slew of tax-related bills. In rapid succession, House lawmakers voted to repeal the federal estate tax, make permanent the state and local sales…
The 2015 filing season is well underway and the IRS, taxpayers and tax professionals are expecting some challenges. In addition to the huge number of returns the IRS must process, the agency also must ensure that individuals are in compliance…
The White House and the new Congress continue to look for common ground on tax legislation and tax reform in 2015. Both sides say tax reform is possible in 2015 and behind the usual rhetoric there seems to be a…
In Rev. Proc. 2015-20, the IRS substantially simplified the requirements for small businesses to adopt the tangible property regulations (the “repair regulations”) for 2014. The relief allows small businesses to change their accounting methods, to comply with the regulations, without…
1. Claim your full write‐offs. Tax limits, thresholds, and ceilings change from year to year, so don’t assume that deduction limits or tax rules from prior years apply now. Failing to learn what’s new could result in you shortchanging yourself.…
2014 was a notable year for tax developments on a number of fronts. Selecting the “top ten” tax developments for 2014 necessarily requires judgment calls based upon uniqueness, taxpayers affected, and forward-looking impact on 2015 and beyond. The following “top…
Eleventh-hour votes in Congress in December renewed a package of tax extenders for 2014, created new savings accounts for individuals with disabilities, cut the IRS’ budget, and more. At the same time, the votes helped to set the stage…
