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Are you up-to-date on the tax rules affecting your 2016 return?

November 25, 2016

Here's a quick review of some of the rules you can expect to encounter when you get ready to prepare your 2016 federal income tax return.

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Keywords: 2016 tax rules

No change to nanny tax threshold

November 24, 2016

The social security coverage threshold for domestic employees, including nannies, will remain at $2,000 for 2017, the same as the 2016 threshold.

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Keywords: nanny tax

Check your basis in your S corporation before the end of the year

November 23, 2016

Losses can be hard to take - so if you think your S corporation will show a loss for 2016, now's the time to plan to make sure you'll get the full tax benefit.

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Keywords: basis, s corporation

Judge Halts Overtime Ruling due to go into effect 12/1/16

By   |  November 23, 2016

On Tuesday, November 22, U.S. District Judge Amos Mazzant of the Eastern District of Texas issued a temporary injunction to stop the new regulation to the Fair Labor Standards Act. This regulation was set to go into effect December 1st...

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Keywords: dol, flsa, overtime

Be prepared for a higher social security wage base in 2017

November 22, 2016

For 2017, the wage base for withholding social security tax from wages has increased to $127,200, up from $118,500 in 2016.

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You still have time for tax-free gift giving

November 8, 2016

December 31 is the last day you can take advantage of this year's annual gift tax exclusion. The exclusion is the amount you can give away each year without triggering gift tax. For 2016, the exclusion is $14,000 per recipient.

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Keywords: tax planning

December 31: the deadline to donate or distribute

November 7, 2016

As an IRA owner, you've probably heard about required minimum distributions (RMDs). These account withdrawals, which are mandatory once you reach age 70 &1/2;, are coupled with a steep penalty for noncompliance, and you're generally required to take...

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Keywords: ira, retirement, rmd

7 Tricks to Budget Like a Pro

By   |  November 4, 2016

Life in the 21st century is pretty amazing. We have access to nearly limitless options - where to live and work, which degree to earn, what to eat for dinner, which show to stream, where to go on vacation, and so on.

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Keywords: budget

October 2016 Market Insight

November 1, 2016

U.S. stocks declined in October with the S&P 500 dropping 1.82% as the November 8th election approaches. It appears that the markets are reluctant to make large moves before it is clear who our next president will be...

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Keywords: stock market, stocks