Despite its name, the “kiddie tax” is not limited to toddlers or preschool children. In fact, it may continue to apply to 20-somethings. Saving grace: At least you may be able to minimize or even eliminate this additional tax.
Posted in Tax Planning
Just before recessing for the holidays, the House and Senate passed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). President Obama signed the Act and a FY 2016 omnibus on December 18.
Posted in Tax Planning
As 2015 draws to a close, the time to consider tax-saving opportunities for you and/or your business is before year-end. Individual income taxes, whether paid through employer withholding or quarterly estimates, are probably one of your largest annual expenditures. You may want to consider opportunities to reduce or defer your annual tax obligation. Also, if you own a business, some opportunities for your business may apply regardless of whether your business is conducted as a sole proprietorship, partnership, limited liability company, S corporation, or regular corporation. Other opportunities may apply only to a particular type of business organization. These Tax Planning Letters are intended to assist you in your individual and business tax planning efforts.
Posted in Tax Planning
