This newsletter is full of ideas and suggestions that can help you with ongoing financial management and tax planning. It contains information on:
Renting vs. Buying your Home
Income Annuities in Employer Retirement Plans
When Workers are Independent Contractors
CPA Client Newsletter February 2015 TRS CPA Group CPA
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This CPA Client Tax Letter is provided by TRS CPA Group, P.A. to its clients through an arrangement with the AICPA, which holds the copyright to the CPA Client Tax Letter and reserves all rights. Permission is required for […]
Employer Reporting on Forms 1095-B / 1095-C
Under the Affordable Care Act
In March the IRS released final regulations concerning the information returns required to be filed by employers under the Affordable Care Act. Copies of the actual forms have not yet been released by the IRS. This article is intended to be a broad discussion of some of the generally applicable regulatory requirements.
What is the first date that these forms must be filed?
The forms must be filed for the for the first time early in 2016 for the 2015 calendar […]
The information for Endow Maryland tax credit is up on the Community Foundation website
The basics are that MD residents (individuals and businesses) are eligible for a 25% tax credit on their MD State Income Tax in 2015 if they make a gift to a qualified fund at a MD Community Foundation. Because the credits are limited to $15,000 total for CFES, we have identified our Community Needs Funds as the “qualified funds”.
There are two ways to participate:
1) By making a gift of $500-$2000 to an existing Community Needs Fund, OR
2) Establishing a new […]
Please check out this Special Report from December 16, 2014. Tax Increase Prevention Act of 2014 / ABLE Act/Omnibus Funding Agreement. Find out recent news and events and how these code changes and extenders will impact your tax situation.
Over 50 Extenders
More Than 500 Code Changes
State and Local Sales Tax Deductions Extended
Mortgage Debt Forgiveness Exclusion Extended
50% Bonus Depreciation Extended
Research Tax Credit Available for 2014
Many Energy Incentives Renewed
Tax-Favored Accounts for Individuals with Disabilities
Inflation-Adjustments for Civil Penalties
FY 2015 Budget Cut for IRS
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