Included in the newly enacted New York State Budget Bill are provisions that reform New York State tax law. This is in response to the Tax Cuts and Jobs Act (TCJA). The provisions specifically address the TCJA’s $10,000 state and ...
Tagged with: Keeping Your Balance Kristina Stamatis
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Some may think that a not-for-profit (NFP) should not generate a profit. If an NFP continually has no profit, it will not be able to sustain its mission. Being financially fit and stable is critical to any business, including an ...
Tagged with: Keeping Your Balance Michelle M. Cain
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The bill known as the Tax Cut and Jobs Act of 2017 (the Act) in Internal Revenue Code (IRC) Section 4960 imposes a 21 percent excise tax on employers for any remuneration in either or both of two specific situations: amounts ...
Tagged with: Keeping Your Balance Raymond Jacobi
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New 2018 withholding calculator Treasury Secretary Steven Mnuchin told the House Ways and Means budget committee on Feb. 15 that the IRS would soon be releasing a new calculator tool so employees can make sure that the correct amount of ...
Tagged with: james w. rahmlow Keeping Your Balance
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Since Dec. 20, 2017, individual taxpayers and businesses have been absorbing many new rules contained in the Tax Cuts and Jobs Act (TCJA). We have been meeting and discussing with clients in an almost non-stop fashion so they may update ...
Tagged with: James P. Schnell Keeping Your Balance
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The Tax Cuts and Jobs Act of 2017 has eliminated the miscellaneous itemized deductions over 2% of AGI. The impact of this elimination may result in some unexpected consequences for accountants, lawyers, financial managers and employers. This change may be ...
Tagged with: Keeping Your Balance Susan Lebbon
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On Dec. 22, 2017, President Trump signed sweeping tax reform (Act) into law. The Act provides the most comprehensive update to the tax code since 1986 and includes a number of provisions of particular interest to pass through entities and ...
Tagged with: Keeping Your Balance Thomas Wolf
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Family life is full of responsibilities; one of which includes providing the proper care for loved ones. In many cases loved ones not only refers to young children, but aging parents. Care providers are available inside or outside the home. ...
Tagged with: Heidi Alati Keeping Your Balance
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On Sept. 29, President Donald Trump signed into law the “Disaster Tax Relief and Airport and Airway Extension Act of 2017.” The new law provides temporary tax relief to victims of hurricanes Harvey, Irma and Maria. The following tax relief ...
Tagged with: Keeping Your Balance Molly Wanzenried
Read More »A nonprofit’s infrastructure is often complex and vulnerable to conflict, or even crisis, if not diligently self-monitored by the board and executive leadership. Below are two examples of organizations that found themselves at challenging crossroads. Example A: An extremely competent ...
Tagged with: Keeping Your Balance Michelle M. Cain
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Year-end 2017 is shaping up as an important deadline to have tax strategies in place to take advantage of certain opportunities before they sunset along with the close of the tax year on Dec. 31, 2017. A major challenge this ...
Tagged with: James DeRidder Keeping Your Balance
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Year-end 2017 is shaping up as an important deadline to have tax strategies in place to take advantage of certain opportunities before they sunset along with the close of the tax year on Dec. 31, 2017. A major challenge this ...
Tagged with: James DeRidder Keeping Your Balance
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