Trump Signs Government Funding Bill; Tax Provisions Included
Just hours before government funding was set to expire, President
Trump on March 23 signed the bipartisan Consolidated Appropriations
Act, 2018, averting a government shutdown. The $1.3 trillion
fisca...
AICPA Renews Call for 199A Guidance
The American Institute of CPAs (AICPA) has renewed its call for
immediate guidance on new Code Sec. 199A. The AICPA
highlighted questions about qualified business income (QBI) of
pass-through inc...
Trump, House Republicans Discussing Phase-Two of Tax Reform
A top House tax writer has confirmed that House Republicans and the
Trump administration are working on a second phase of tax reform
this year. House Ways and Means Committee Chairman Kevin Brady,
R-T...
House Lawmakers Examine Tax Extenders
The House Ways and Means Tax Policy Subcommittee held a March 14
hearing in which lawmakers and stakeholders examined the future of
various temporary tax extenders post-tax reform. Over 30 tax
breaks,...
Conviction for Obstructing Tax Administration Reversed
The U.S. Supreme Court reversed an individual’s conviction for
obstructing tax law administration. The government failed to show
that the individual knew that a "proceeding" was
pendin...
How do I? Make tax-free gifts for tuition
With the soaring cost of college tuition rising on a yearly basis,
tax-free tuition gifts to children and grandchildren can help them
afford such an expensive endeavor, as well as save the generous
ta...
A first look at 2017 inflation-adjusted tax amounts now available
An early glimpse at the income tax picture for 2017 is now
available. The new information includes estimated ranges for each
2017 tax bracket as well as projections for a growing number of
inflation-s...
Year-end tax planning is right around the corner
It’s not too early to get ready for year-end tax planning. In fact,
many strategies take time to set up in order to gain maximum
benefit. Here are some preliminary considerations that may help
y...
Liability for the "nanny" tax
Employers generally have to pay employment taxes on the wages they
pay to their employees. A fine point under this rule, however, is
missed by many who themselves have full time jobs and don’t t...
What the new 1099 reporting requirement will mean for businesses
Businesses of all sizes are preparing for a possible avalanche of
information reporting after 2011. To help pay for health care
reform, lawmakers tacked on expanded information reporting to the
Patie...
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We welcome you to G&J Seiberlich & Co LLP and invite you to call on us to discuss your own Accounting for Life.
