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Strategic Year-End Business Planning for Maximum Tax Benefit

Posted by Brian Dansa

Dec 22, 2016 1:20:42 PM

There are several strategies that businesses should consider in order to maximize tax benefits while year-end planning for 2016.  Some of the strategies that should be considered involve the following tax topics:

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Topics: tax, corporate tax,, dopkins tax, year end tax planning, Code Section 179, family owned business, Protecting Americans from Tax Hikes (PATH) Act, PATH Act, Strategic Planning, Research Credit

Countdown to 2017....What is your year-end tax planning strategy?

Posted by Sarah E. DesJardins

Dec 19, 2016 10:04:06 AM

As the year comes to a close, there are three important items that should be considered regarding your year-end personal tax planning strategies.

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Topics: tax, personal tax planning, dopkins tax, year end tax planning, roth ira converstion, medical expense deduction, minimum distribution requirement, required minimum distribution, roth ira

Give Yourself the Gift of Year End Tax Planning

Posted by Sarah E. DesJardins

Dec 13, 2016 9:30:00 AM

Before you get caught up in all the holiday gatherings and celebrations, it is important to take some time to evaluate your tax situation for the current year. Some simple personal tax planning techniques can potentially save you hundreds or thousands of dollars either in the current or succeeding year. While some events such as the timing of having a child may be difficult to control, there are many other events you can manipulate to reduce your tax liability.

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Topics: tax planning,, personal tax planning, dopkins tax, year end tax planning

Tuition Credits, Changes, and The PATH Act

Posted by Brian Dansa

Dec 1, 2016 7:30:00 AM

In accordance with the Protecting Americans From Tax Hikes (PATH) Act, for 2016 every educational institution was required to provide a Form 1098-T (Tuition Statement) to those attending their institution. The Form 1098-T provides information related to tuition and fees that the taxpayer or taxpayer’s dependent would use to determine their applicable educational deduction, American Opportunity Credit, or the Lifetime Learning Credit.

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Topics: tax planning,, dopkins tax, Path Act 2015, Protecting Americans from Tax Hikes Act, form 1098-t, Tuition credits, tax advisory

Congress Passes Extenders Package

Posted by Eric R. Soro CPA

Dec 17, 2014 4:40:00 PM

 Congress Passes Extenders Package, ABLE Act; Cuts IRS Budget

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Topics: dopkins tax, year end tax planning, Tax Extenders

2014 Year end tax planning tips

Posted by Jennifer C. Plail CPA

Nov 20, 2014 10:39:05 AM

As we transition from fall to winter, the following are a few tax planning and tax-saving strategies individuals and small businesses may want to consider to help lower their tax bill for 2014. 

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Topics: tax planning,, retirement planning, corporate tax,, personal tax planning, dopkins tax, 401(K)

Tangible Asset Regulations (TARS)- Final Regulations Released

Posted by Jill E. Colombo CPA

Aug 27, 2014 12:55:38 PM

Effective August 15, 2014, the IRS adopted the final regulations relative to dispositions of MACRS property and the accounting for MACRS general asset accounts (GAA).  The final regulations remain applicable to tax years beginning on or after January 1, 2014.  Under these regulations, a partial disposition of a building component is able to result in a loss deduction only if a partial disposition election is made.  This election may be made for any of the defined major building components or a portion of a structural component and must be made by the due date (including extensions) of the original federal tax return for the tax year in which the portion of the asset is disposed of.  Based on informal IRS guidance, it is expected that an accounting method change will be available for 2014 which will allow taxpayers to apply the partial disposition election to tax years beginning before 2014.

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Topics: tangible assets and repairs, MACRS, dopkins tax, gaa, tangible asset regulations, tars, form 4562, General asset accounts

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