Due Date for Federal Income Tax Payments Extended to July 15
The Treasury Department and IRS have extended the due date for the
payment of federal income taxes otherwise due on April 15, 2020,
until July 15, 2020, as a result of the ongoing coronavirus
(COVID-1...
HSA High-Deductible Health Plans Can Cover Coronavirus Costs
The IRS has provided emergency relief for health savings accounts
(HSAs) and COVID-19 health plans costs. Under this relief, health
plans that otherwise qualify as high-deductible health plans
(HDHPs)...
AICPA Asks for More QBI Deduction Guidance
The American Institute of CPAs (AICPA) has requested additional
guidance on tax reform’s Code Sec. 199A qualified
business income (QBI) deduction....
Final Covered Asset Acquisition Rules Adopted
The Treasury and IRS have adopted as final the 2016 proposed
regulations on covered assets acquisitions (CAAs) under Code
Sec. 901(m) and Code Sec. 704. Proposed regulations
issued unde...
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...
At G&J Seiberlich we view our work as Accounting for Life.
Living a rewarding life is what we all desire. Life has many stages and the money we earn, spend and save along the way plays a pivotal role in the flow of life.
We focus on helping our clients manage their income, businesses and financial assets to meet their lifetime goals.
We welcome you to G&J Seiberlich & Co LLP and invite you to call on us to discuss your own Accounting for Life.
