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.
Foreign Provisions in the New Tax Legislation May Impact Your 2017 Taxes
The dust has settled and we now have the Tax Cuts and Jobs Act, 185 pages of new tax code accompanied by 500 pages of conference committee explanations. Most of the new legislation is effective for tax years beginning in 2018, so it may be tempting to wait until the...
Don’t be a victim of tax identity theft: File your 2017 return early
The IRS announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17 filing deadline, or even the extended deadline of October 15 (if you file for an extension by April 17). After all, why go through the...
One Year of International Tax Blogging at Sciarabba Walker
We are excited to celebrate the one year anniversary of the launch of our International Tax Blog! Since January 9, 2017, we published more than 40 original blog posts covering a variety of international tax topics. We examined issues affecting individuals, such as...
Important Changes for Individuals in the New Tax Law
For individual taxpayers, the new tax law—commonly known as the Tax Cuts and Jobs Act (TCJA)—includes many expected changes, some unexpected ones, and some that didn't make the final cut. Here are the most important things that individual taxpayers need to know about...
The TCJA temporarily expands bonus depreciation
The Tax Cuts and Jobs Act (TCJA) enhances some tax breaks for businesses while reducing or eliminating others. One break it enhances—temporarily—is bonus depreciation. While most TCJA provisions go into effect for the 2018 tax year, you might be able to benefit from...
Tax Cuts and Jobs Act: Key provisions affecting individuals
On December 20, Congress completed passage of the largest federal tax reform law in more than 30 years. Commonly called the Tax Cuts and Jobs Act (TCJA), the new law means substantial changes for individual taxpayers. The following is a brief overview of some of the...
Warm Up to Solar Energy with Tax Credits
Many individuals and businesses in New York State have decided to “go solar” in the last few years, in part due to state incentives and community initiatives. When considering the purchase of solar panels, it is important not only to consider the benefits for the...
401(k) retirement plan contribution limit increases for 2018; most other limits are stagnant
Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2018. But one piece of good news for taxpayers who are already maxing out their contributions is that the 401(k) limit has gone up...
Thank You for a Wonderful Year!
In January 2017, we officially launched our International Tax Blog—and what a year it has been! We recognized a need for advanced expertise in international tax services and developed our blog to address that need. Businesses continue to expand globally, and...
What you need to know about year-end charitable giving in 2017
Charitable giving can be a powerful tax-saving strategy: Donations to qualified charities are generally fully deductible, and you have complete control over when and how much you give. Here are some important considerations to keep in mind this year to ensure you...