My Boulay
MN 952.893.9320
FL 239.325.1100

 

 

IRS Sheds Light on New Limit on Business Interest Expense Deductions

The Tax Cuts and Jobs Act (TCJA) imposes a limit on deductions for business interest for taxable years beginning in 2018. The limit, like other aspects of the law, has raised some questions for taxpayers. In response, the IRS has issued temporary guidance in Notice 2018-28 that taxpayers can rely on until it releases regulations. While the guidance provides some valuable information, it also leaves some questions unanswered.

Read the rest of entry »

Individual Tax Calendar: Important Deadlines for the Remainder of 2018

While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need to be aware of. To help you make sure you don’t miss any important 2018 deadlines, here’s a look at when some key tax-related forms, payments and other actions are due. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.

Read the rest of entry »

First Quarter 2018 Market Perspective

April Economic Update

Custody Examinations

For nearly 80 years, Registered Investment Advisers (RIAs) have been subject to the "custody rule" [rule 206(4)-2] under the Investment Advisers Act of 1940, which protects their clients from the misuse or misappropriation of their clients’ funds and securities. In 2009, the Securities and Exchange Commission (SEC) updated the custody rules to further protect advisory clients. RIAs that have custody are now required to have an annual surprise custody examination. This examination is to be completed by an independent accounting firm that is registered with the Public Company Accounting Oversight Board (PCAOB).

Read the rest of entry »

You Still Have Time to Make 2017 IRA Contributions

Tax-advantaged retirement plans like IRAs allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. The deadline for 2017 contributions is April 17, 2018. Deductible contributions will lower your 2017 tax bill, but even nondeductible contributions can be beneficial.

Read the rest of entry »

2018 Q2 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us at learnmore@BoulayGroup.com or 952.893.9320 to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

Read the rest of entry »

Remote Seller Notice and Reporting Requirements

States have problems enforcing sales and use tax laws, period. This is especially true when remote sellers ship products to in-state customers but do not charge sales tax. Advocates of the status quo may argue that purchasers still have an obligation to self-assess use tax. But when was the last time you self-assessed tax for your online purchases? Assuming you said ‘never,’ you’re not alone. Self-assessment is virtually unheard of by most individual consumers. Businesses are better at self-assessments, but compliance is far from 100%.

Read the rest of entry »

March Economic Update

Highlights of the Tax Cuts and Jobs Act for Bankers

Michael A. Crabtree, J.D., CPA, Partner, wrote an article entitled, "Highlights of the Tax Cuts and Jobs Act for Bankers," for the Minnesota Bankers Association's March/April 2018 issue of MBA News. Click here to read the article.

Read the rest of entry »

Pages: Previous1234567...39NextReturn Top

CONNECT



 

 

 

CONNECT


Categories