EFA continues to work hard for you. In an effort to provide you with the guidance and direction you need, we are sharing a few articles of interest. On April 1, 2016, Maria Murphy, CPA published the article, "Bringing Leases Into View." The article discusses the nuances and changes to accounting for leases by FASB [...]
EFA is excited to release the 2016-17 Tax Planning Guide. Our guide has information relating to tax planning, investing, real estate, business and executive compensation, family and education, charitable giving, retirement and estate planning. It also includes the following in detail: New tax filing deadlines now in effect Research credit is permanent! Is your business [...]
In an effort to help employers subject to the Affordable Care Act’s (ACA’s) information reporting requirements meet those obligations, the IRS has extended two important deadlines. Employers now have an additional two months to provide employees Form 1095-B, “Health Coverage,” and Form 1095-C, “Employer-Provided Health Insurance Offer and Coverage.” Employers have an additional three months [...]
Your deduction varies depending on what you are donating. Learn more about specific deductions and which ones are applicable to your financial situation. Learn more by visiting EFA's Web Tax Guide: www.webtaxguide.net/EFA/.
Turn saving tax dollars into a family tradition 2016 may be another good year for families to save taxes. Most of the child- and education-related tax breaks on the table the last several years are available once again to parents — or in some cases to grandparents or to students themselves. And a savings opportunity [...]
In an effort to help employers subject to the Affordable Care Act’s (ACA’s) information reporting requirements meet those obligations, the IRS has extended two important deadlines. Employers now have an additional two months to provide employees Form 1095-B, “Health Coverage,” and Form 1095-C, “Employer-Provided Health Insurance Offer and Coverage.” Employers have an additional three months [...]
On December 18, the Senate passed — and the President signed into law — the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), which the House had passed on December 17. The act extends certain tax relief provisions that expired at the end of 2014. In many cases, it makes the breaks permanent. [...]
Your deduction varies depending on what your donating. Cash. This includes not just actual cash but gifts made by check, credit card or payroll deduction. You may deduct 100%. Ordinary-income property. Examples include stocks and bonds held one year or less, inventory, and property subject to depreciation recapture. You generally may deduct only the lesser [...]
To maximize the tax benefits of property ownership, homeowners, investors and real estate professionals alike need to be aware of the breaks available to them as well as the rules and limits that apply. Whether you’re selling your principal residence, maintaining a home office or investing in rental properties, tax savings are available if you [...]
On December 18, the Senate passed — and the President signed into law — the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), which the House had passed on December 17. The act extends certain tax relief provisions that expired at the end of 2014. In many cases, it makes the breaks permanent. [...]
