Tax Alerts

2018 Payroll Tax Requirements

Monday, December 11, 2017

The Payroll Tax Requirements guide is primarily intended to provide generalized information regarding payroll taxes and employer obligations. Our 2018 Payroll Tax Requirements document covers both federal and California tax rate information along with their requirements. Click here to view the 2018 Payroll Tax Requirements If you have any questions regarding payroll tax or reporting requirements […]

Special Edition Tax Alert – Senate Bill Passes: Start Planning for Tax Reform

Monday, December 4, 2017

Early Saturday morning, December 2, 2017, the Senate passed H.R. 1, the Tax Cuts and Jobs Act. The following are a few of the key revisions included in the current version of the bill: Allow a deduction for up to $10,000 in property taxes paid to state and local governments (the original Senate bill proposal […]

Year-End Tax Planning for 2017: Challenges and Opportunities

Friday, December 1, 2017

Year-end tax planning can provide most taxpayers with a good way to lower a tax bill that will be waiting for them when they file their 2017 tax return in 2018. Since tax liability is primarily linked to each calendar tax year, once December 31, 2017 passes, your 2017 tax liability, for the most part, will […]

Computing the Nanny Tax

Friday, December 1, 2017

For purposes of federal tax, employers must withhold and pay FICA taxes (7.65%) if they paid a household employee cash wages of at least $2,000 in 2016 or 2017 ($2,100 in 2018). Employers must pay FUTA tax (6%) if they paid total cash wages of at least $1,000 in a calendar quarter to household employees. […]

ACA Requirements Remain While the White House Seeks Changes

Friday, December 1, 2017

As the 2018 filing season nears, the IRS is reminding taxpayers that the Affordable Care Act (ACA) remains on the books. The ACA’s reporting requirements for individuals have not been changed by Congress. However, the Trump Administration has proposed administrative changes to the ACA, which could expand health reimbursement arrangements (HRAs), the use of short-term, […]