IRS Updates FAQs on Certain ACA Provisions

IRS Updates FAQs on Certain ACA Provisions

The Trump Administration and the Republican majority in Congress plan to repeal and replace the Affordable Care Act (ACA) in the coming months. In the meantime, however, employers must continue to comply with the existing rules for 2016, including the information reporting requirements and shared responsibility provisions. The IRS previously issued three sets of FAQs … Continued

Tax Fraud Awareness: How to Protect Your Identity and Assets

The IRS, taxpayers and tax preparers share a common enemy: identity thieves. We all have a part to play in the fight against tax-related identity theft. Your role starts by learning the mechanics and warning signs. From there, taxpayers can take proactive steps to protect their data online and at home.   Understand How Tax … Continued

Tax Rules When Selling Your Home

How the gains from the sale of a primary residence are taxed has changed in recent years. If you have recently sold your home, or are considering doing so, you may want to be aware of these new rules.   Home Sale If you owned and lived in your home for two of the last … Continued

Old Habits May Be Costing You Dearly

There’s an old story of a soldier who got up every morning, walked over to an unused iron stove in the middle of the barracks and gave it a swift kick. Then he’d hop around in pain and yell at the stove. When a fellow soldier asked him why he did such a thing, he … Continued

Four Reasons Millennials Need an Estate Strategy

You’re young, have little in savings and likely have no one yet relying on you financially. So why do you need to think about estate management?¹ Here are four great reasons: Estate Strategies: They’re Not Just for Old People 1. You need a will. You may ask why a will is important if there’s not … Continued

Consider Pumping Up Your Service Menu

Searching for revenue to keep the bottom line healthy, a number of dealerships have added F&I products to their service offerings. A possible influx of longer-term customers at your store can make it worthwhile to consider selling service contracts and related products in the service lane. Timing Is Everything Dealerships are finding that it’s easier … Continued

Ten Ways to Save Money on Insurance

Best practices for containing insurance costs are critical because insurance is one of the biggest costs in the dangerous construction environment. Here are 10 ways contractors may be able to save money on insurance: 1. Know Your Policy, Know Your Needs Insurance agents are salespeople. They may not be as concerned with trimming your company’s … Continued

HTB Announces Two New Partners

Hannis T. Bourgeois, LLP (HTB) is excited to announce Kyle K. Cook, CPA, CCIFP, CIT and Thomas J. Exnicios, CPA, CGMA have been promoted to Partner of the firm. Kyle Cook has twelve years of experience providing audit, assurance and consulting services to clients in the construction industry and employee benefit plans. A Certified Public … Continued

Changes to Tax Filing Deadlines

Effective for the 2017 tax-filing season, there are several important changes to the due dates for filing some federal tax returns. The new due dates are set for partnerships and C corporation returns, as well as FinCen Form 114, Report of Foreign Bank and Financial Accounts (FBAR) and several other IRS information returns. Due dates … Continued

Property Tax Update

Tax Update December 2016   Property Taxes As a result of the August floods, many properties in the affected areas had to be reassessed and property tax bills have been delayed. These property taxes may not be due until 2017. It is important to note that for 2016 federal income tax purposes, you can only … Continued