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Published on: February 7, 2018

February 7, 2018

The changes to the estate and gift tax exemption made by the Tax Cuts and Jobs Act (TCJA) are effective beginning in 2018. The results should include fewer estates being…

Published on: January 31, 2018

January 31, 2018

Here’s a look at some of the more important elements of the new tax law that have an impact on partnerships, S corporations, and pass-through income and information on changes…

Published on: January 24, 2018

January 24, 2018

The Tax Cuts and Jobs Act (TCJA) has effectively lowered the cost of acquiring capital assets by making substantial changes to the income tax rules for bonus depreciation and other…

Published on: January 17, 2018

January 17, 2018

Individual Tax Rate Change The recently enacted Tax Cuts and Jobs Act (TCJA) imposes a new tax rate structure with seven tax brackets: 10%, 12%, 22%, 24%, 32%, 35%, and…

Published on: December 27, 2016

Maine Home Modification Tax Credit

Effective December 11, 2016, the Maine State Housing Authority has issued a rule for a tax credit (up to $9,000) for expenses incurred for modifications made to a home to…

Published on: December 27, 2016

Standard Mileage Changes for 2017

Beginning on Jan. 1, the 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,…

Published on: December 1, 2016

Breaking News: Court Temporarily Blocks Overtime Rule

On Tuesday, November 22, 2016, a federal judge temporarily blocked the new overtime pay rule that was to go into effect December 1, 2016. What does this mean? Employers currently…

Published on: November 18, 2016

Individual Year-End Tax Review

As 2016 winds down, now’s an excellent time to review your current tax planning strategies to ensure they’re still meeting your needs and to develop plans for 2017. It’s also…

Published on: November 8, 2016

Do you have a household employee?

Do you have a nanny or babysitter, a cleaning person, a caretaker, a health aide or private nurse? If so, you may have a household employee. Generally, if you control…

Published on: October 24, 2016

Increase in Social Security Wage Base for 2017

On October 18, 2016, the Social Security Administration announced the 2017 tax rates and wage base. The Social Security wage base will increase from $118,500 to $127,200 for individuals starting…

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