Archive for January 2016
ALEs: Information Reporting and Health Coverage
The Affordable Care Act requires applicable large employers (ALEs) to file information reporting returns with the IRS and their employees. ALEs are generally those employers with 50 or more full-time…
Read MoreTax Brackets, Deductions and Exemptions for 2016
More than 50 tax provisions, including the tax rate schedules, and other tax changes are adjusted for inflation in 2016. Let’s take a look at the ones most likely to…
Read MoreTangible Property Expensing Threshold Increases
The safe harbor threshold for small businesses deducting certain capital items has increased from $500 to $2,500. The new $2,500 threshold takes effect starting with tax year 2016. In addition,…
Read More10 Tax Breaks Reauthorized for Tax Year 2015
Congress took action in late December and passed a tax extender bill formally known as the Protecting Americans from Tax Hikes Act of 2015 (PATH), which was then signed into law. Retroactive…
Read MoreCover & Rossiter Director Peter Kennedy Quoted in New York Times on New FASB Proposal
Cover & Rossiter Audit Director, Peter Kennedy, CPA was quoted in a recent New York Times article regarding the potential concerns that could stem from the Financial Accounting Standards Board’s (FASB)…
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