2015 YEAR-END TAX STRATEGIES & PLANNING – We have provided some discussion on the more common strategies that may assist you with your year-end tax planning. Remember that you are unique and that not all your planning opportunities may be listed. Please let us know if we can develop a strategy that will best meet your specific situation.
See the “Tax Planning & Strategies“ section to review the tax strategy discussion.
TAX EXTENDERS LEGISLATION UPDATE – There were over 50 tax related items (deductions, credits, etc.) that expired on December 31, 2014. Congress has yet to pass legislation to “extend” these tax provisions. See further discussion in the “What’s New for 2015″ page.
2015 ORGANIZERS & TAX QUESTIONNAIRES – We will be mailing customized Organizers and Tax Questionnaires to you, our clients, to help guide you in gathering the information we need to prepare the tax returns. These tools will help give us a better understanding to more accurately prepare the tax return and to discover tax saving opportunities. Because situation may have changed, additional Organizer pages are available to down load should they be needed (see applicable “Tax Organizer” page ).
OBAMACARE & TAX RETURNS – Beginning in 2014, the Affordable Care Act (“ACA”), also referred to as Obamacare, mandates health insurance coverage. Businesses with 50 or more employees are mandated to provide health insurance coverage to their employees, or pay penalties. Individuals that are not provided health insurance coverage by their employer are mandated to obtain insurance coverage on their own, or pay penalties. The focus of “this article” is related to the individual’s mandate, related penalties, possible exceptions, and how they are reported on your tax return.