Entries by Ryan

How much can I give to my children without having to pay tax?

This question gets asked a lot and is often misunderstood by the individual when asking the question. The real question should be “How much can I give to my children without having to file a gift tax return?” A gift tax return must be filed if an individual gifts an amount over $14,000 per year […]

Collection Agencies to begin work for IRS

Are you overdue paying your tax bill? You may be contacted by a private collection agency. (The IRS is starting to use private firms as a result of a 2015 law requiring it.) The IRS has posted a sample letter on its website that it will send to taxpayers to notify them that their overdue […]

Employer Deadline Extended

Certain small employers may provide eligible workers with a qualified small employer health reimbursement arrangement (QSEHRA), subject to rules that differ from the rules of most group health plans. Eligible employers were instructed to furnish a written notice of policy details to eligible employees at least 90 days before the start of the year the […]

Report explains Tariff and Border Tax Differences

A Congressional Research Service (CRS) report explains key differences between an import tariff and a border tax. One of the main components of congressional Republicans’ “A Better Way” tax reform blueprint is a border adjustment tax. But President Trump has generally supported an import tariff and has proposed imposing it in several ways, ranging from […]