JANUARY 2017
Hello {First Name},

As we transition from January to February, we’re reminding that life is full of seasons.  Do you have a child that recently graduated from college?  If so, you may be wondering whether they will qualify to be your dependent on your 2016 tax return.  In this issue we discuss requirements to claim dependency exemptions.  As always, rules can be very fact specific, if you have questions, we have answers.  Relax.  We Got This.

We also briefly discuss ways to protect yourself on payroll taxes.

If you are need further explanation, give us a call, we are here to help. 
This Month's Featured Articles 
Can you Claim a Dependency Exemption for your College Grad?

Do you have a recent college graduate in the family, or will your child be graduating this year? If so, this might the last chance you have to claim a dependency exemption on your federal income tax return. Since the exemption...read more

Deduction for State and Local Sales Tax Benefits Some, But not All, Taxpayers
The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes was made "permanent" a little over... read more
Protect Yourself from the 100% Penalty on Payroll Taxes 

As an employer, you’re responsible for collecting payroll taxes from employee wages and depositing the taxes with the IRS. The IRS takes these rules very seriously – so seriously that if your business willfully fails to deposit payroll taxes on time, the responsible person could be held personally... read more
IMPORTANT DATES TO REMEMBER THIS TAX SEASON!!!

Now that you've already filed your 2016 Forms W-2 with the Social Security Administration and filed your 2016 Forms 1099-MISC with the IRS and provided copies to your employees and (or) recipients, here is another date to remember that will keep you on track during this tax season:

March 15

If a calendar-year partnership or S corporation, file or extend your 2016 tax return. If the return isn’t extended, this is also the last day to make 2016 contributions to pension and profit-sharing plans.
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