by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
This year, the deadline for filing your 2017 individual income tax return this year is Tuesday, April 17, 2018, and the countdown to Tax Day has begun! Currently, many taxpayers are scrambling to wrap things up. But there’s an easy fix if you’re among the...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Question: Our company is an applicable large employer (ALE), and we sponsor a fully insured group health plan. We have to file Forms 1094-C and 1095-C for the 2017 calendar year. When are these forms due this year? Answer: Applicable large employers must: 1. Report to...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Some parts of the tax code that relate to personal tax returns have been significantly changed by the new Tax Cuts and Jobs Act (TCJA). In addition to lowering most of the tax rates and increasing the standard deduction, the TCJA repeals, suspends or modifies some...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
On January 22, a short-term government funding bill was signed into law by President Trump. It ended the brief government shutdown by funding the federal government through February 8. It also suspends the following Affordable Care Act (ACA) taxes, which were designed...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Tax Planning, Tax Preparation
Recently, Congress revamped the so-called “kiddie tax” under the Tax Cuts and Jobs Act (TCJA). Congress had enacted the tax rules to prevent parents and grandparents in high tax brackets from shifting income (especially from investments) to children in lower tax...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
The individual Alternative Minimum Tax (AMT) is unfortunately retained by the Tax Cuts and Jobs Act (TCJA). However, here’s the silver lining: The AMT rules now reduce the odds that you’ll owe the AMT for 2018 through 2025. Plus, even if you’re still in...
