Answers to Affordable Care Act Tax Questions for Year-End Tax Planning for Individuals and Businesses

  AFFORDABLE CARE ACT— INDIVIDUALS Unless exempt, the ACA requires that all individuals carry minimum essential coverage or make a shared responsibility payment. Individuals with health insurance coverage should ascertain that their coverage satisfies the ACA’s minimum essential coverage requirements. Individuals without minimum essential coverage may be liable for a shared responsibility payment unless exempt…. Read more »

IRS Provides Tips for Choosing Return Preparers

Larson & Company knows those looking for 2016 tax help may be concerned about finding a tax preparer that is credible and trustworthy before the next filing season. Recently the IRS reminded taxpayers that choosing a return preparer now will give them more time to consider options before the start of the 2016 filing season. The 10 tips… Read more »

Recent Developments May Affect Your Tax Situation

The following is a summary of important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize the… Read more »

NONPROFIT CHANGES AHEAD

Recent financial reporting changes will impact your nonprofit organization, including changes to the financial statement model, changes to revenue recognition requirements, and changes to requirements for reporting in the State of Utah. We can give you the knowledge you need to successfully implement these changes! Our nonprofit team will be holding a free seminar at… Read more »

Important 2015 Third Quarter Federal Tax Developments

During the third quarter of 2015, there were many important federal tax developments. This letter highlights some of the more significant developments for you. As always, contact Larson & Company’s tax specialists if you have any questions. Tax legislation President Obama signed the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 in… Read more »

Special Report: Tax-Related Identity Theft? Here’s how to avoid it

Special Report As Identity Theft Grows, IRS and Practitioners React The volume and magnitude of identity theft incidents have grown to an alarming extent. Last year, more than 9.9 million Americans were victims of identity theft, a crime that cost them roughly $5 billion. Tax-related identity theft crimes have also risen dramatically. TIGTA reports that… Read more »

2015 Year-End Tax Planning Letter

Dear Clients and Friends, At this point in 2015, with the end of the year and the income tax filing deadline on the horizon, tax planning presents more of a challenge than usual. So far, Congress has passed minimal tax legislation. However, the Senate Finance Committee at the end of July approved a two-year extension… Read more »

After a 46 year career, Dennis Larson, CPA to retire from Larson & Company

 

Choosing an Accountant That’s Right for Your Small Business

Deciding on the right accountant is an important decision to make for your small business. You want someone who is skilled and knows what they are doing. We want to make sure you are secure in your decision, which is why we’re going to give you some tips for choosing an accountant that fits right… Read more »

An Alert to Our Clients Regarding the Upcoming June 30, 2015 Deadline for BE-10, Benchmark Survey of US Direct Investment Abroad, affecting certain U.S. Companies, Individuals, Trusts, Estates, or Non-Profit Entities

Did you have direct or indirect ownership or control of at least 10 percent of the voting stock of a foreign enterprise, at any time during the 2014 tax year? If so, continue reading, as you may have a new filing requirement this year. What is BE-10? BE-10 is a mandatory survey by the U.S…. Read more »