On November 8, 2016, Republican candidate Donald J. Trump won a closely contested election for president of the United States.Late on election night, when it became evident that Trump was likely to win despite consistently trailing in the polls, foreign markets went into a deep...
Beginning November 1, 2016, individuals (including their families) may apply for new health insurance or switch to a different health-care plan through a Health Insurance Marketplace. The open enrollment period ends January 31, 2017.Individuals can use Health Insurance Marketplaces to compare health plans for benefits...
Federal Income Tax Returns Due for Most on Monday, April 18th The filing deadline for most individuals is Monday, April 18, 2016.The federal income tax filing deadline for most individuals is Monday, April 18, 2016. That's because Emancipation Day, a legal holiday in Washington, D.C., falls...
When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated for people who expected to use those strategies to boost their retirement income. Here are some questions and answers that...
We've seen a lot of excitement over a commonly missed education credit for students that get scholarships and grants. One of our old friends is charging a 40% commission to help you reclaim these missed credits. His work is legitimate and it’s getting a lot...
Some of the reporting requirements for the Affordable Care Act (Obamacare or ACA) are finally hitting some employers and their employees this tax season. New forms, 1095-B and 1095-C, were originally intended to be sent with the same deadlines as employee W2s. However, the reporting...
Some of the reporting requirements for the Affordable Care Act (Obamacare or ACA) are finally hitting some employers and their employees this tax season. New forms, 1095-B and 1095-C, were originally intended to be sent with the same deadlines as employee W2s. However, the reporting...
Our firm slogan is, “It’s not just about numbers.” The slogan is meant to remind us and our clients that economic profit metrics should not be the only yardstick we use to measure success in our businesses and our personal lives. Money is nice. More...
The IRS has extended health insurance coverage reporting deadlines nearly 2 months.Sec. 6055 requires health insurance issuers, self-insuring employers, government agencies, and other providers of minimum essential coverage to file annual information returns about coverage provided.Sec. 6056 requires applicable large employers (employers with 50 or...
Income Tax Key NumbersAlternative minimum tax(AMT)20152016Maximum AMT exemption amount$83,400 (MFJ) $53,600 (Single/HOH) $41,700(MFS)$83,800 (MFJ) $53,900 (Single/HOH) $41,900(MFS)Exemption phaseout threshold$158,900 (MFJ) $119,200 (Single/HOH) $79,450(MFS)$159,700 (MFJ) $119,700 (Single/HOH) $79,850(MFS)26% rate applies to AMT income (AMTI) at or below this amount (28% rate applies to AMTI above this...
