Sciarabba Walker Blog
The information in these blog posts is provided for general informational purposes only and is not intended to substitute for accounting, tax, or financial advice from a professional accountant. While we use reasonable efforts to furnish accurate and up-to-date information, we do not warrant that any information contained in or made available through this blog is current or error free. No part of this communication is intended to be used for the purpose of avoiding penalties under U.S. federal tax law.
Living Overseas: Delinquent FBAR Submission Procedures
U.S. taxpayers are not always aware that they must report their foreign accounts on an Foreign Bank Account Report (FBAR) in accordance with Foreign Account Tax Compliance Act (FATCA) requirements. If the taxpayer has reported all income (or did not have enough income...
Tax Cheer for Holiday Gifts to Employees
With the holidays fast approaching, you might want to reward your employees for all their hard work in 2018. Gift-giving ideas include gift cards, holiday turkeys and achievement awards. Although your intent may be essentially the same in all these situations, the tax...
Preparing for Tax Season: Tax Forms and Documents
Year-end is a great time to think about organizing your documents and getting your records ready for the upcoming tax season. There are some items that you will need to keep and record throughout the year to supplement the records you will receive after year-end....
2019 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list is not all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you are meeting all...
Living Overseas: Streamlined Foreign Offshore Filing Procedures
When U.S. citizens or permanent residents live abroad, they don’t always realize that they are subject to U.S. tax filing requirements. To illustrate how this works, we will examine the fictional case of Noah, a dual Australian/U.S. citizen who has lived in Australia...
TCJA’s Impact on Technology Companies
The Tax Cuts and Jobs Act (TCJA) is the biggest change to the tax code since 1986. Many of the changes will significantly impact technology companies. The TCJA changed tax rates for all companies. It reduced the corporate tax rate to a flat 21% from the maximum 35% in...
Does prepaying property taxes make sense anymore?
Prepaying property taxes related to the current year but due the following year has long been one of the most popular and effective year-end tax-planning strategies. But does it still make sense in 2018? The answer, for some people, is yes—accelerating this expense...
Living Overseas: Tax Implications for U.S. Citizens Living Abroad
When paying income taxes, individuals often assume they are only required to pay taxes to the country where they are living. However, under U.S. law, U.S. citizens and U.S. residents must file U.S. tax returns and report their worldwide income regardless of where they...
Catch-up retirement plan contributions can be particularly advantageous post-TCJA
Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want to make “catch-up” contributions by the end of...
Charitable Contributions: Tax Considerations
The end of the year is a great time to consider making a charitable contribution in support of the causes you care about. Here are some tax considerations to keep in mind when making your donations. Timing of Charitable Contributions Charitable contributions are...