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Tag Archive for 2015 Tax Planning

Start 2015 Tax Planning Now! Part 1

Tax Code Changes Create Challenges

What should small business owners focus on for 2015 tax planning?

An  important,  yet  often  overlooked,  issue  for small business owners is the choice of the form of entity under which they operate. For 2015, this will become critical as Congress contemplates major changes to  the  tax  code.  Currently, the maximum   corporate federal tax  rate  is  generally  less  than the maximum individual tax rate. This has led many business owners to consider converting their sole proprietorships and pass through entities (such as S corporations and LLCs) into C corporations, which are taxed at the lower corporate rate. Caution must be exercised before making this change, Read more

Tax Changes For 2015: A Checklist

It’s been a few months, but “Welcome 2015!” As the new year rolls around, it’s always a sure bet that there will be changes to current tax law and 2015 is no different. From health savings accounts to retirement contributions and standard deductions, here’s a checklist of tax changes to help you plan the year ahead.

Individuals

For 2015, more than 40 tax provisions are affected by inflation adjustments, including personal exemptions, AMT exemption amounts, and foreign earned income exclusion, as well as most retirement contribution limits.

For 2015, the tax rate structure, which ranges from 10 to 39.6 percent, remains the Read more

Why Is Halloween So Scary? – 2015 Tax Planning Will Be Hugely Complicated And Profoundly Significant For Most ALL Taxpayers

Once again another year is almost behind us and right after the new year income taxes are coming. The forthcoming tax environment is extraordinarily unusual and can subsequently be very scary. Basically what you need to know is that ALL Americans will be seeing changes on their tax returns many of which congress ONCE AGAIN still hasn’t been able to work out as of yet. While the pusillanimous reprobates in federally elected positions of authority continue to ‘discuss’ last minute income tax bills you can be assured that I make a concerted effort to stay abreast of all the latest changes as they occur.

So have fun this weekend celebrating all hallows eve – may favorite of all the ‘holidays’ – but prepared to reach out to a knowledgeable and reputable Enrolled Agent to do some Read more