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At Seiler LLP, we continually strive to provide our clients with current news, insightful opinions and tax planning tools throughout the year.
SUBSCRIBEAt Seiler LLP, we continually strive to provide our clients with current news, insightful opinions and tax planning tools throughout the year.
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05
2024
Reference this tax calendar to learn the 2024 deadlines for various tax-related forms and payments. DATE 2024 FEDERAL TAX DEADLINE FOR January 31 Individuals: Filing a 2023 income tax return (Form 1040 or Form 1040-SR) and paying tax due, to avoid penalties for underpaying the January 16 installment of estimated taxes. Businesses: Providing Form 1098, Form 1099-MISC (except for those […]
Nov
06
2023
Changes to the credit loss model have been updated effective January 1, 2023 via Accounting Standards Update No. 2016-13 (ASU No. 2016-13). The goal of ASU No. 2016-13 is to update a perceived weakness in US GAAP by updating impairment accounting for financial instruments to add an impairment model known as current expected credit losses […]
Dec
09
2022
Recently proposed regulations covered numerous topics, but one of the most noteworthy is an unexpected interpretation of the so-called “10-year rule” for inherited IRAs and other defined contribution plans. If finalized, these regulations could lead to larger tax bills for certain beneficiaries. Download PDF > Back in late 2019, the first significant legislation addressing retirement […]
Aug
29
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 […]
Jun
27
2022
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
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 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 […]
Jan
26
2022
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 […]
Oct
29
2021
HLB International recently released an in-depth report assessing the landscape of cyber risk amid the rise of remote and hybrid work. Download PDF > HLB International, the global advisory and accounting network, recently published a report entitled, “Threat or Opportunity: Assessing the Cyber-Risk Landscape in the Age of Hybrid Work.” The report surveyed 136 IT professionals […]
Aug
31
2021
Governor Gavin Newsom signed A.B. 150 on July 16, 2021, establishing a federal tax cap workaround for individual deductions allowed for state and local taxes (SALT). The option provided by A.B. 150 is available to qualifying S corporations, partnerships, and limited liability companies. Download PDF > SALT Cap Workaround Explained A.B. 150 offers a workaround […]