Jan 7, 2022 | Tax Planning Tips, Tax Updates
It’s a new year and that means new tax laws and other tax changes. Below are changes that take effect this year, along with other tax planning information. Filing deadlines. First off, the deadline to file individual tax returns is April 18. Other deadlines are:...
Dec 15, 2021 | IRS information, Tax Updates
Derek Bradley is a tax associate at Larson & Company specializing in small business tax preparation and accounting strategies Cryptocurrency might seem like a fly by night scheme to some, but to others it is part of the financial system of the future....
Nov 23, 2021 | Tax Updates
Corporate Alternative Minimum Tax The Build Back Better Act resurrects the corporate alternative minimum tax (AMT) which was eliminated by the Tax Cuts and Jobs Act, although it returns in a slightly altered form. Proposed to be effective for tax years beginning after...
Nov 23, 2021 | Tax Updates, Uncategorized
Income Tax Surcharge In lieu of income tax rate increases on the top tax bracket, the Build Back Better Act includes a new, two-stage surcharge on the modified adjusted gross income of individuals, estates and trusts. An additional tax of five percent applies to the...
Apr 29, 2021 | IRS information, Tax Updates
The White House – Fact Sheet: The American Families Plan President Biden’s April 28 “Fact Sheet: The American Families Plan” contains numerous tax breaks for low and middle earner taxpayers and numerous tax increases on taxpayers “making...
Mar 31, 2021 | Tax Updates
The premium tax credit (PTC) is a refundable credit that assists individuals and families in paying for health insurance obtained through a Marketplace established under the Affordable Care Act. Recent COVID relief legislation (the 2021 American Rescue Plan Act, or...
