Special Report: 2016 Tax Year-In-Review

Wave Of 2016 Tax Developments Sets Stage For Even Busier 2017 2016 began and ended with the promise of comprehensive tax reform. The election of Donald Trump as the 45th President of the United States appears to make tax reform likely in 2017. At the same time, legislation, court decisions and IRS determinations issued in… Read more »

What Larson & Company Offers You

Since our inception in 1975, Larson & Company has been dedicated to helping the insurance industry in the Western region run efficiently. Our objective was to offer the best audit services possible to insurance entities. Today we help all types of clients, including small companies and entrepreneurs to non-profit organizations and larger public companies. With locations… Read more »

How Our Accounting Services Can Help You

At Larson Certified Public Accountants, our accounting services seek to show you which areas you are doing well and which areas you need to improve. Our proven method consists of assessing your current situation, designing a financial plan to get you where you want to go, implementing an efficient system, interpret your resulting data, and… Read more »

IRS lowers mileage rates for 2017

The Internal Revenue Service has issued the 2017 optional standard mileage rates to calculate the  of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: • 53.5 cents per mile for business miles driven,… Read more »

“Last minute” year-end 2016 tax-saving moves for individuals

Although there are only three weeks left to go before the year ends, it’s not too late to implement some planning moves that can improve your tax situation for 2016 and beyond. This Practice Alert reviews some actions that you can take before December 31 to improve your overall tax picture. Observation: Taxpayers and their advisers engaged in… Read more »

Tax filing season to begin January 23; returns due April 18

IRS has issued a news release announcing that the 2017 tax filing season will begin January 23, 2017. Additionally, due to the Emancipation Day holiday, the filing deadline to submit 2016 tax returns will be April 18, 2017. IRS also reminded taxpayers claiming certain credits to expect a longer wait for refunds. Open season. IRS… Read more »

2016 Year-end planning: reducing exposure to the 3.8% surtax on unearned income–Part VIII

For high earning taxpayers, year-end tax planning for 2016 includes facing the complication of the 3.8% surtax on unearned income under Code Sec. 1411. This article takes a look at year-end moves that can be used to reduce or eliminate the impact of this surtax, including overall year-end strategies for coping with it and specific… Read more »

2016 Year-end Planning:”Last minute” year-end 2016 tax-saving moves for businesses–Part VII

As year-end approaches, business’ should consider whether they could benefit from the following “last minute” tax-saving moves, including adjustments to income to preserve favorable estimated tax rules for 2017, deferral of certain advance payments to next year, and fine-tuning bonuses to make the most of the Code Sec. 199 domestic production activities deduction. Accelerating or… Read more »

Using Reports In QuickBooks – It’s About Time You Know Where You Are

Do you use QuickBooks to keep track of your day to day expenses and income for your business? If so, you are to be congratulated! That puts you ahead of the rest to be ready for tax time. But have you wondered what it is all for? What is the point of entering all that… Read more »

Projected tax impact of 2016 election results and a “lame duck” Congress

Trump’s Win Expected to Bring Tax Law Changes Donald Trump’s election as the 45th President of the United States on November 8 is expected to bring changes to the tax laws for individuals and businesses. President-elect Trump had made tax reduction a centerpiece of his economic plans during his campaign, saying he would, among other… Read more »