FEBRUARY 2017
Greetings!

Do you need to file a 2016 gift tax return by April 18? Generally, you’ll need to file one if you made gifts that exceeded the $14,000-per-recipient annual exclusion. In this issue we provide details to determine when filing is required and when filing isn't required.

We also briefly discuss what you need to understand about incentive stock tax treatment.

If you are need further explanation, give us a call, we are here to help. 
This Month's Featured Articles 
Do You Need to File a 2016 Gift Tax Return by April 18?
Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate planning strategy. Or perhaps you just wanted to provide loved ones with... read more
What You Need to Know about the Tax Treatment of ISOs

Incentive stock options allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the grant date. If the stock appreciates, you can buy shares at a price below what they’re then trading for. However, complex tax... read more

How to Secure Casualty and Theft Loss Deductions

No one enjoys picking up the pieces after a natural disaster or when some other calamity destroys personal property like a home or car. But at least you may be in line for some tax relief. If you qualify, you can deduct part of your unreimbursed losses from casualties... 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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