Jan 4, 2019 | Insurance, Tax Cuts and Jobs Act, Tax Updates
AUTOMATIC CONSENT PROCEDURES FOR INSURANCE COMPANY CHANGING BASIS OF COMPUTING RESERVES UNDER TCJA In a Revenue Procedure, IRS has provided the procedures under Code Sec. 446 and Reg § 1.446-1(e) for an insurance company changing its basis of computing reserves...
Jan 3, 2019 | Tax Updates
A number of important tax changes go into effect in 2019. Some were ushered in by legislation such as the Tax Cuts and Jobs Act, the 2016 Consolidated Appropriations Act, and the Bipartisan Budget Act of 2018. Still other changes are the result of various...
Oct 24, 2018 | Tax Cuts and Jobs Act, Tax Planning Tips, Tax Updates
Is your company ready for the changes related to the deductibility of meals and entertainment expenses? Effective for tax years beginning after December 31, 2017, the ‘Tax Cuts and Jobs Act’ (the Act) significantly changes the amount that will be allowed as a...
Sep 11, 2018 | IRS information, Tax Cuts and Jobs Act, Tax Planning Tips, Tax Updates
The IRS has urged retirees to perform a “paycheck checkup” using the Withholding Calculator to verify that they were having the right amount of tax withheld from their pensions and annuity checks. This guidance is part of the “Paycheck Checkup”...
Jul 16, 2018 | IRS information, Tax Planning Tips, Tax Updates
The following is a summary of important tax developments that have occurred in April, May, and June of 2018 that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you...
Jul 11, 2018 | Tax Planning Tips, Tax Updates
It’s been estimated that the number of people who itemize will fall by more than half in 2018 because of changes made by the Tax Cuts and Jobs Act. That’s bad news for many charitable givers, but those who are age 70½ or older can continue to gain a tax...
