IRS Provides Section 199A Safe Harbor for Rental Real Estate
The IRS has issued a revenue procedure with a safe harbor that
allows certain interests in rental real estate to be treated as a
trade or business for purposes of the Code Sec. 199A qualified
business...
SALT Cap Not Unconstitutionally Coercive
A district court has dismissed a lawsuit filed by four states’
against the federal government, ruling that the $10,000 state and
local taxes (SALT) federal deduction cap is not
unconstitutionall...
Preceding Year Disaster Loss Election Final Regulations
The IRS has released final regulation on the election to take a
loss resulting from a federally declared disaster in the year
preceding the disaster. The final regulations adopt proposed
regulations s...
Proposed Regs Address Tax Implications of LIBOR Elimination
Proposed regulations provide guidance on the potential tax
consequences of replacing the London interbank offered rates
(LIBORs) with a new reference rate in contracts and agreements....
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.
