2016 Reporting Requirements of the Affordable Care Act

Beginning in 2016 (for health coverage offered on or after January 1, 2015), Internal Revenue Code (IRC) Section 6056 requires Applicable Large Employers (ALEs) to file information returns with the Internal Revenue Service (IRS) to report applicable healthcare information. An ALE must file Form 1095-C, Employer-Provided Health Insurance Offer and…

IRS Tips for Year-End Gifts to Charity

The IRS has reminded taxpayers making year-end charitable contributions to keep in mind current tax law requirements. To claim a deduction, donated clothing and household items must be in good or better used condition; monetary donations must be substantiated by a bank record or written statement; donations worth $250 or…

2015 Year-End Tax Planning for Individuals

  As you finalize plans for the holidays, remember to include some year-end and 2016 tax and financial planning. You can develop a personalized strategy that will help you gain peace of mind. Traditional Year-End Considerations A number of traditional year-end tax planning strategies may be helpful in maximizing tax…

2015 Year-End Tax Planning for Businesses

  As you prepare for the end of the year and the start of 2016, remember to review your overall tax and financial ¬†strategy. We are here to help provide peace of mind when planning for the future of your business. Expensing and Bonus Depreciation Many businesses have utilized enhanced…