Monthly Archive: October 2015

10 Best States for Taxes on Retirees

Retirees have special concerns when evaluating state tax policies: Are Social Security benefits taxed? Does the state impose its own estate tax? Are there property tax breaks for seniors? The answers can greatly affect the financial well-being of someone living…
Read more

A Tax Strategy for Real Estate Sales

By Allison DeLuca, CPA, Melville, N.Y. October 1, 2015 The U.S. real estate market has always attracted the attention of investors and developers worldwide and even more so recently because of a number of factors including increased financing channels…
Read more

IRS Announces Progress in Collaborative Fight Against Tax Return Identity Theft

By Sally P. Schreiber, J.D. October 20, 2015 An IRS-led coalition is making progress in the fight against tax-return identity theft the agency announced on Tuesday (IR-2015-117, FS-2015-23). IRS Commissioner John Koskinen called the collaborative effort an ?unprecedented partnership ……
Read more

Retirement Plan Limits for the Tax Year 2016

On October 21, 2015, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2016. Here are the highlights: 2016 Plan Limits

In 2016, Some Tax Benefits Increase Slightly Due to Inflation Adjustments, Others Are Unchanged

IR-2015-119, Oct. 21, 2015 WASHINGTON ? For tax year 2016, the Internal Revenue Service today announced annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2015-53 provides details about…
Read more

Employee or Independent Contractor?: The Worker Classification Dilemma

By Susan C. Allen, CPA/CITP, CGMA, Durham, N.C. October 1, 2015 The worker classification issue persists due to the inherent tug-of-war between workers, who tend to prefer employee status, and payers/businesses, which often prefer to classify their workers as…
Read more

Deducting Expenses for Sporting Events Under an Accountable Plan

By David J. Holets, CPA, Indianapolis September 1, 2015 Most employers take advantage of the accountable plan rules to deduct travel and entertainment expenses. Amounts received by an employee under an accountable plan are deductible by the employer without any…
Read more

Don?t let clients overlook these key estate planning issues

Clients dragging their heels? Let them know why estate planning is so important. By Patricia M. Annino, J.D. October 12, 2015 Clients tend not to want to deal with estate planning until they absolutely have to. In my 30 years…
Read more

Tax Planning Businesses Can Do Before Year End

By Sally P. Schreiber, J.D. Printed by The Tax Adviser October 8, 2015 At the end of every year, it seems, taxpayers wait anxiously for Congress to enact extensions of popular business tax breaks, and every year Congress waits to…
Read more

Netflix Breaks Up Audience Romance With Telenovela
New competitors are forcing Televisa and other Latin American broadcasters to develop real-life, edgier dramas and crime stories to replace the torrid romances that once enthralled millions.
Controversial New Milk Shakes Up Big Dairy
An upstart milk company’s success in marketing a controversial type of milk that is supposed to be easy to digest has some big dairy companies setting aside their skepticism to introduce their own versions.
Lockheed Boosts Full-Year Guidance
Lockheed Martin Corp. on Tuesday boosted its full-year guidance alongside forecast-beating quarterly earnings as sales of fighter jets and weapons overseas continued to rise.
Elliott's New Korean Target May Prove Willing
The activist investor has published its proposal to revamp Hyundai. It may not get everything it asks for, but it could still generate some good returns.
Google Parent Posts Surge in Profit, but Expenses Also Jump
Alphabet posted surging profits as advertisers kept swarming to the search giant amid a global debate about internet privacy that threatens to affect its main revenue generator.