The Tax Cuts and Jobs Act will have a large impact on the agribusiness community. Join our Agribusiness Team as we partner with Sievers Equipment for free, one-hour programs on how these changes may affect you. We will be hosting three different sessions of this program. Drinks and light appetizers will be provided. We hope […]
Every company needs to upgrade its assets once in a while, whether desks and chairs or a huge piece of complex machinery. But before you go shopping this year, be sure to brush up on the enhanced bonus depreciation tax breaks created under the Tax Cuts and Jobs Act (TCJA) passed late last year. Old […]
Personal tax exemptions and the standard deduction have looked largely the same for quite some time. But, in light of the Tax Cuts and Jobs Act (TCJA) passed late last year, many individual taxpayers may find themselves confused by the changing face of these tax-planning elements. Here are some clarifications. For 2017, taxpayers can claim […]
A growing number of businesses have been victimized by W-2 phishing scams. In a traditional phishing scam, a criminal tricks someone into providing confidential information and then uses it to steal money and/or the victim’s identity. The W-2 phishing scam is a variation on this. Whether you’re a business owner, work in management or are simply […]
The clock is ticking down to the tax filing deadline. The good news is that you still may be able to save on your impending 2017 tax bill by making contributions to certain retirement plans.For example, if you qualify, you can make a deductible contribution to a traditional IRA right up until the April 17, […]
They say one person’s trash is another person’s treasure. This may hold true when it comes to collectibles — those various objets d’art for which many people will pay good money. But if you’re considering selling or donating some of your precious items, be sure to consider the tax impact on your 2017 return. Sales The IRS […]
It’s not uncommon for adult children to help support their aging parents. If you’re in this position, you might qualify for an adult-dependent exemption to deduct up to $4,050 for each person claimed on your 2017 return. Basic Qualifications For you to qualify for the adult-dependent exemption, in most cases your parent must have less […]
The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here’s a look at some of the more important elements of the new law that have an impact on both individuals and businesses. Individual Highlights Unless otherwise noted, the changes are effective for tax years beginning in 2018 through 2025. Tax […]
If you’re like many Americans, you might not start thinking about filing your tax return until close to this year’s April 17 deadline. You might even want to file for an extension so you don’t have to send your return to the IRS until October 15. But there’s another date you should keep in mind: […]
January 16 — Individual taxpayers’ final 2017 estimated tax payment is due. January 31 — File 2017 Forms W-2 (“Wage and Tax Statement”) with the Social Security Administration and provide copies to your employees. File 2017 Forms 1099-MISC (“Miscellaneous Income”) reporting nonemployee compensation payments in box 7 with the IRS and provide copies to recipients. Most employers […]
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