Category: Tax

2016 Presidential Candidates Tax Plans

“In this world nothing can be said to be certain, except death and taxes.” Benjamin Franklin’s quote has definitely stood the test of time and since death is normally not a trendy subject at your cocktail parties or family gatherings, maybe taxes, whether good or bad, may be a more interesting subject for us to […]

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Tax ‘Extenders’ bill gets signed by President Obama on December 18 2015.

The Protecting Americans from Tax Hikes (PATH) Act of 2015 retroactively extended over 50 taxpayer (favorable) tax provisions.  These are the temporary tax provisions that are routinely extended by Congress on a one or two year basis.  Some provisions have now become permanent.  Here are a few of the permanent tax breaks: The $500,000 expensing […]

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IRS Issues 2016 Benefits and Contributions Limits

The Internal Revenue Service announced the cost-of-living adjustments (COLA) for tax year 2016, that apply to dollar limits for 401(k) and other retirement plans. Most of the plan limits will remain unchanged as the increase in the Consumer Price Index did not meet the statutory thresholds for that trigger rate adjustments. The announcement highlighted the […]

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Important 2016 tax rates have been released

With 2016 just around the corner, the IRS has released many important rates that will impact your 2016 tax return, retirement plan contribution limits, and payroll taxes. To help you stay aware and up to date, here is a brief summary of the key rates and changes for 2016. Tax Benefits 2016 will result in […]

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Recent Tax Law Changes and Mid-Year Healthcare Update

At the end of the last Congressional session, there were a couple of new bills signed into law by President Obama. In these bills, there were a few tax items passed that may affect you First, if you’ve ever been in college or had kids in college, you might have been able to take an […]

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IRS Warns of Scams – Beware!

Last week the IRS issued a newswire informing taxpayers to be wary of tax scams. In the past we’ve warned clients about emails or letters that appear to be on IRS letterhead. Now, scammers are more creative and they are calling taxpayers and asking for payments or personal information over the phone. These phone calls […]

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Tips for Maximizing your Charitable Deduction

Charitable Giving is on the Rise – Tips for Maximizing your Charitable Deduction by Giving Personal or Business Items on Hand. According to the Lilly Family School of Philanthropy at Indiana University, charitable contributions have finally eclipsed their pre-recession record high with Americans donating an estimated $358 billion to charitable organizations in 2014, compared to […]

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Venturing into a new state?

As your construction company grows, you may be presented with opportunities that are outside your normal state of operations. While it may be a good idea to bid on an out-of-state project, you’ll want to consider a number of different factors before making the final decision to pursue an out-of-state venture. Please continue reading as […]

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Identity Theft and Your Tax Return

We hear a lot about identity theft in the news. Part of the identity theft crisis can even involve your income tax return. Thieves will file fraudulent tax returns using other taxpayers’ social security numbers in order to claim refunds. Then when that taxpayer goes to actually file his/her tax return, the Internal Revenue Service (IRS) […]

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Tax Increase Prevention Act of 2014

With the recently enacted “Tax Increase Prevention Act of 2014,” Congress has once again extended a package of expired or expiring individual, business, and energy provisions known as “extenders.” The bill now awaits President Obama’s signature and it is expected he will sign it into law in the very near future.  The extenders are a […]

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