Posted on November 30, 2017
by
Adam Cohen
As 2017 comes to a close, it is time for individuals with Flexible Spending Accounts (FSAs) to understand their responsibilities and potentially take action to use or lose any remaining balance in their FSAs before Dec. 31, 2017. While FSAs can provide significant tax savings, such as lowering participants’ taxable income and reducing the amount of […]
Posted on November 29, 2017
by
John Ebenger
In order for businesses to take advantage of bonus depreciation on qualified improvement property (QIP), they must first understand how to determine the date that a building is considered to be “placed in service.” In 2015, the PATH Act extended 50 percent bonus depreciation to non-leased QIP that is acquired and “placed in service” after […]
Posted on November 29, 2017
by
Joanie Stein
Enrollment in Florida’s Prepaid College Program kicked off on Oct. 15, 2017, continuing the state’s 30-year tradition of helping families save for their children’s future college education. Florida residents have until Feb. 28, 2018, to enroll in the program and lock in today’s lower tuition costs at one of the state’s public universities. Prices for […]
Posted on November 13, 2017
House Republicans introduced on Nov. 2, 2017, the details of their plans for overhauling the tax code based on the vision outlined by the president a little over a month earlier. It is not expected that the plan will become the law in its present state, as lawmakers, lobbyists and other interested parties will debate, […]
Posted on November 12, 2017
As 2017 draws to a close, the future of tax and regulatory reform hangs in the balance. The House of Representatives just passed a budget resolution that includes allusions to major modifications to the tax rules, but details are scant. Despite this current environment of uncertainty, the end of the year remains a critical time […]
Posted on November 10, 2017
by
Robert Aldir
The new model for how businesses across all industries will need to recognize revenue from customer contracts in 2018 for public companies and in 2019 for nonpublic companies is a game changer. While privately held companies have an additional year to come into compliance, they must begin preparations now to account for the substantial changes […]
Posted on November 07, 2017
by
Joseph Saka
The wireless networks, cell phones, routers, printers and other electronics that businesses and their employees regularly use in the office setting could be the weak link to allowing hackers to take over an organization’s entire digital network. According to the IRS, remote access takeover attacks are on the rise, putting businesses and their data at […]
Posted on November 03, 2017
by
Lewis Kevelson
Over the past several years, the Department of the Treasury and the IRS have taken aim at small captive-insurance companies (sometimes referred to as mini- or micro-captives). While it is legal for businesses to create these structures and self-insure themselves against specific risks, the IRS is concerned about those businesses that structure their small captives […]
