For over 25 years, SAVIGNANO Accountants & Advisors has provided tax services to help you address your personalized tax needs. We have often been asked if we could assist with your Financial Service needs. We are excited to announce that through a strategic alliance with New York Life Insurance Co./New York Life Securities, we can now offer the best team in financial services.
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Substance Over Form
Have you received a W-2 or 1099 with an error? Check forms carefully to ensure accuracy. If you discover a mistake, contact the payer promptly to obtain a revised form. Also, a payer may issue a corrected form on its own. Don’t ignore the change on the 1040 you file with the IRS. The IRS computers match up W-2s and 1099s and could produce an unexpected tax bill.
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The 2018 standard mileage rate for business driving will rise to 54.5 cents a mile, up 1 cent from 2017. Businesses with four or fewer vehicles can use this rate, but each vehicle’s basis must be reduced by the depreciation component…25 cents a mile.
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Add another item to your holiday shopping list: last-minute tax planning.
Congress has passed the most sweeping overhaul of the federal tax code in three decades. The Republican legislation, which President Trump celebrated on Wednesday, delivers most of its benefits to corporations and the wealthy, but there are key changes that affect individuals.
Continue reading “Now That The Tax Overhaul Has Passed, Here Are Five Moves To Consider Before Year’s End”
The new tax reform bills that passed the House and Senate were built on the “need for speed.” Both versions were rushed along in the hopes of a final measure arriving on the president’s desk before Christmas. But haste makes waste and, in this case, could result in glitches, misinterpretations and loopholes opening when others are closing.
Continue reading “Tax Reform Bills Full Of Errors and Conflicts”