for-individuals-families

ALERTS & ARTICLES/

FOR INDIVIDUALS & FAMILIES

Nov

29

2022

Multiple New Tax Incentives in the CHIPS and Inflation Reduction Acts

The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) provides generous federal tax incentives to increase domestic production of semiconductors, while the Inflation Reduction Act (IRA) includes significant provisions related to climate change, providing federal energy related tax credits. Download PDF > Overview of the 2022 CHIPS Act The CHIPS Act combines […]


Nov

15

2022

TCJA Bonus Depreciation Set to Phase Out After 2022

The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. The amount of first-year depreciation available as a so- called bonus will begin to drop from 100% after 2022, and businesses should plan accordingly. Download PDF > Bonus Depreciation Rules & […]


Aug

29

2022

IRS Announces Enhanced Business Deductions for Remainder of 2022

The IRS recently released enhanced business deductions for eligible taxpayers for the final six months of 2022. New rules have been put into place regarding the standard business mileage rate deduction, medical and moving driving deductions, and the business meal deduction. Download PDF > Standard Business Mileage Rate Increase in Second Half of 2022 The […]


Aug

16

2022

Federal and California Political Donation Limitations and Reporting Requirements

Americans are now making political contributions for the 2022 midterm elections. Many activities that support or oppose candidates for federal, state, and local offices are subject to federal and state campaign finance laws. The laws generally limit the sources and amounts of funds used to finance elections. The following are guidelines to avoid incurring federal […]


Jun

27

2022

IRS Provides Relief for Filing Schedules K-2 and K-3 for 2021 Tax Year

The IRS has eased filing requirements for pass-through entities required to file two new tax forms—Schedules K-2 and K-3—for the 2021 tax year. Certain domestic partnerships and S corporations won’t be required to file the schedules, which are intended to make it easier for partners and shareholders to find information related to “items of international […]


Jun

22

2022

New IRS Cryptocurrency Reporting Requirements in 2023

The Infrastructure Investment and Jobs Act that was signed into law in late 2021 includes new definitions and tax reporting requirements for cryptocurrency. Download PDF > An Overview of the Changes Under existing broker reporting rules, if you have a stock brokerage account, whenever you sell stock or other securities, you will receive a Form […]


May

20

2022

HLB’s Global Annual Review Reveals 25% Network Growth in 2021

HLB International recently released its 2021 Global Annual Review, noting that the network experienced major growth in revenue, offices, and cross-border locations. Download PDF > HLB International, the global advisory and accounting network, recently released its 2021 Global Annual Review, Reaching New Heights. In addition to outlining the impressive growth experienced last year, the report […]


Feb

15

2022

2022 Federal Tax Calendar

To help ensure you don’t miss any important 2022 deadlines, we’ve provided this federal tax calendar summarizing when various tax-related forms, payments, and other actions are due. California and other states generally follow the federal filing deadlines, with certain exceptions. Please contact your Seiler tax advisor if you have questions about the deadlines or would […]


Jan

26

2022

Cost-of-Living Adjustments Impact 2022 Tax Planning Strategies

The IRS recently issued its 2022 cost-of-living adjustments for more than 60 federal tax provisions. With an increase in inflation, statutory tax provisions that are indexed to the national cost-of-living have increased over 2021 amounts. As you consider 2022 tax planning strategies, be sure to take the new 2022 cost-of-living adjustments into account. Download PDF […]


Dec

16

2021

The Infrastructure Investment and Jobs Act: Tax Provisions to Know About

President Biden signed the Infrastructure Investment and Jobs Act (IIJA) into law on November 15, 2021. The legislation includes multiple tax-related provisions that may affect you or your business. Download PDF > The bulk of the IIJA, known informally as the “bipartisan infrastructure bill,” is directed toward massive investment in infrastructure projects across the country. […]