AKMCPA Bulletins

Net Investment Income Tax

The Net Investment Income Tax “NIIT” was added to the Internal Revenue Code on March 30, 2010. It is imposed at a rate of 3.8% of certain net investment income of individuals, estates and trusts that have income above specified … Continue reading

Posted in Bulletins

Tax Filing Deadline Changes: What You Need to Know.

New Due Dates for Tax Returns/Changes to Extension Deadlines Beginning with tax year 2016 returns due in 2017, a number of filing deadlines have changed.  The primary purpose of the changes is to facilitate a more logical flow of information … Continue reading

Posted in Alerts, Bulletins, News

Act Now to Transfer Shares in Family Business

Limited Window of Opportunity for Owners of Family Businesses to Take Advantage of a Valuable Tax Break. The Treasury Department has issued “proposed final regulations” to eliminate a provision in the tax code that allows owners of family businesses to … Continue reading

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Businesses Pay a Steep Price for Failure to Issue 1099s

Bulletin Businesses that do not issue Form 1099 as required have been in for some nasty surprises from the IRS lately.  There are several variations of Form 1099, but the primary one for business services is the 1099-MISC.  Beginning January … Continue reading

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Seven Tips for Thriving this Tax Season

The annual tax filing deadline is still several weeks away for both individual and business taxpayers.  That may seem like a long way off, but a lot needs to happen fairly quickly if you are going to be ready to … Continue reading

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New Day for New York Non-Profits: Law Modernizes and Clarifies Many Issues

The New York Non-Profit Revitalization Act of 2013 (“the Act”) will significantly impact the way most non-profits and charitable trusts handle a variety of issues. The law’s provisions, most of which go into effect July 1, 2014, cover three broad … Continue reading

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Taking Leave: New NYC Law Impacts All Employers

Two laws recently passed by the New York City Council mandate that employers provide sick leave to most employees. Here is an overview of what you should know about these laws and how they might affect your organization. Continue reading

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Five Conversations to Have with your CPA Today to save time, money and headaches tomorrow.

1. Tax projections and planning Plan ahead and guard against uncertainty and rising tax rates. 2. Bill payment and bookkeeping Keep track of your cash flow with greater accuracy and less effort. 3. Property and casualty insurance Protect your assets … Continue reading

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Executive Summary: ACA and You: Tax Changes for 2013 and Beyond

As implementation for the Affordable Care Act (“ACA” or “Obamacare”) has finally begun, taxpayers at all levels will notice certain changes in taxes they pay, the way income is reported and health-related deductions. This Executive Summary covers some of the provisions with the broadest potential impact. Continue reading

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What’s Keeping You Up at Night: Tell Your Most Trusted Business Advisor

It could be a business opportunity that you’re not quite sure how to leverage or a family concern with high stakes and uncertain outcomes. Whatever it happens to be, chances are good that money plays a key role in it. Continue reading

Posted in Bulletins, News