Year End Tax Planning for Capital Gains and Losses

book-1112467_1280We are at the time of year when many investors are considering year-end tax planning for capital gains and losses.  With the election of Donald Trump and Republican majorities in both houses of Congress, the likelihood of tax law changes in 2017 has significantly increased. If any of these proposals are enacted, this will most likely result in lower capital gains taxes in 2017. Thus, the general rule would be to recognize your capital losses this year and postpone your capital gains until 2017. However, there are some exceptions to this general rule.

 

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RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business Magazine, we are ranked as one of the top accounting firms based in Northern New Jersey, servicing clients across the USA and worldwide. The firm is PCAOB registered and a member of both the Center for Public Company Audit Firms, the Employee Benefit Plan Audit Quality Center, and the Forensic Valuation Services (FVS) section of the American Institute of Certified Public Accountants. RotenbergMeril has a dedicated Litigation.

 

 

 

Quick Tip: Why Setup an LLC?

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The LLC has the most advantages when compared to a sole proprietorship or partnership. However, not all businesses are at a stage when an LLC makes good business sense. Compared to corporations. LLCs are similar to corporations in that they offer limited liability protection to its owners.

RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business Magazine, we are ranked as one of the top accounting firms based in Northern New Jersey, servicing clients across the USA and worldwide. The firm is PCAOB registered and a member of both the Center for Public Company Audit Firms, the Employee Benefit Plan Audit Quality Center, and the Forensic Valuation Services (FVS) section of the American Institute of Certified Public Accountants. RotenbergMeril has a dedicated Litigation Support and Valuation Services Group.

Court Temporarily Blocks Overtime Rule

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On November 22, 2016, U.S. District Court Judge Amos Mazzant granted an Emergency Motion for Preliminary Injunction and thereby enjoined the Department of Labor from implementing and enforcing the Overtime Final Rule on December 1, 2016.  The case was heard in the United States District Court, Eastern District of Texas, Sherman Division (State of Nevada ET AL v. United States Department of Labor ET AL No: 4:16-CV-00731). The rule updated the standard salary level and provided a method to keep the salary level current to better effectuate Congress’s intent to exempt bona fide white-collar workers from overtime protections.

 What you should know:

  • Employers (until further notice) do not need to comply with original December 1st effective date.
  • This injunction is temporary subject to the court’s review.
  • There is no way of knowing when the status of these regulations will change; we are monitoring the situation and will notify you as soon as updates become available

For more information on the Overtime Rule, please visit the Department Of Labor website.

RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business Magazine, we are ranked as one of the top accounting firms based in Northern New Jersey, servicing clients across the USA and worldwide. The firm is PCAOB registered and a member of both the Center for Public Company Audit Firms, the Employee Benefit Plan Audit Quality Center, and the Forensic Valuation Services (FVS) section of the American Institute of Certified Public Accountants. RotenbergMeril has a dedicated Litigation Support and Valuation Services Group.

Tax Return Errors-Tips To Avoid Them!

Check out the below video from the IRS.

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RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business Magazine, we are ranked as one of the top accounting firms based in Northern New Jersey, servicing clients across the USA and worldwide. The firm is PCAOB registered and a member of both the Center for Public Company Audit Firms, the Employee Benefit Plan Audit Quality Center, and the Forensic Valuation Services (FVS) section of the American Institute of Certified Public Accountants. RotenbergMeril has a dedicated Litigation Support and Valuation Services Group.

Year-end tax planning: Don’t wait for year-end

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Let’s face it, things get hectic as the year-end approaches. So it’s better to not wait too long to focus on financial transactions you can do now that will result in lowering your tax liability for 2016.

RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business Magazine, we are ranked as one of the top accounting firms based in Northern New Jersey, servicing clients across the USA and worldwide. The firm is PCAOB registered and a member of both the Center for Public Company Audit Firms, the Employee Benefit Plan Audit Quality Center, and the Forensic Valuation Services (FVS) section of the American Institute of Certified Public Accountants. RotenbergMeril has a dedicated Litigation Support and Valuation Services Group.

Tax Preparedness Series: How to Avoid a Refund Delay; Plan Ahead

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As tax filing season approaches, the Internal Revenue Service is reminding taxpayers about steps they can take now to ensure smooth processing of their 2016 tax return and avoid a delay in getting their tax refund next year.

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RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business Magazine, we are ranked as one of the top accounting firms based in Northern New Jersey, servicing clients across the USA and worldwide. The firm is PCAOB registered and a member of both the Center for Public Company Audit Firms, the Employee Benefit Plan Audit Quality Center, and the Forensic Valuation Services (FVS) section of the American Institute of Certified Public Accountants. RotenbergMeril has a dedicated Litigation Support and Valuation Services Group.

IRS extends due dates for PPACA forms and penalty relief

downloadBecause a substantial number of employers, insurers, and other providers of health coverage need more time to gather and analyze the information they need to prepare certain health care information returns required to be filed under the Patient Protection and Affordable Care Act, P.L. 111-148, the IRS on Friday announced extended due dates for those forms (Notice 2016-70). The due date to send individuals the 2016 Form 1095-B, Health Coverage, and the 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, is extended to March 2, 2017, from Jan. 31, 2017.

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RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business Magazine, we are ranked as one of the top accounting firms based in Northern New Jersey, servicing clients across the USA and worldwide. The firm is PCAOB registered and a member of both the Center for Public Company Audit Firms, the Employee Benefit Plan Audit Quality Center, and the Forensic Valuation Services (FVS) section of the American Institute of Certified Public Accountants. RotenbergMeril has a dedicated Litigation Support and Valuation Services Group.

Take Steps Now for Tax Filing Season

taxplanningGet ready today to file your 2016 federal income tax return.

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RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business Magazine, we are ranked as one of the top accounting firms based in Northern New Jersey, servicing clients across the USA and worldwide. The firm is PCAOB registered and a member of both the Center for Public Company Audit Firms, the Employee Benefit Plan Audit Quality Center, and the Forensic Valuation Services (FVS) section of the American Institute of Certified Public Accountants. RotenbergMeril has a dedicated Litigation Support and Valuation Services Group.

startupFranchise vs. Start-up: Which One Works for You?
Here are some pros and cons of each model — decide which works best for you.
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RotenbergMeril is a CPA firm with offices in the NY/NJ Metropolitan Area. According to both the NJBiz Journal and New Jersey Business Magazine, we are ranked as one of the top accounting firms based in Northern New Jersey, servicing clients across the USA and worldwide. The firm is PCAOB registered and a member of both the Center for Public Company Audit Firms, the Employee Benefit Plan Audit Quality Center, and the Forensic Valuation Services (FVS) section of the American Institute of Certified Public Accountants. RotenbergMeril has a dedicated Litigation Support and Valuation Services

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