There are significant changes that will come about as a result of this tax bill. The changes will have an impact on businesses and individuals. It might make sense to look at your business/personal tax situation before the end of the year in order to insure you take advantage of certain aspects of existing tax law before the new law takes effect.
With the introduction of “The Tax Cuts and Jobs Act” last week, The House Ways and Means Committee proposes dramatic changes to our nation’s tax laws. As the legislative debate begins in earnest, the only thing that is certain for taxpayers is uncertainty. Individuals and business leaders alike must navigate year-end tax planning under the current tax laws while positioning themselves to react quickly in the event that the new tax legislation should go into effect in 2018. Continue reading “Year-end Tax Planning Guide – 2017-2018”
Congress recently enacted significant changes to IRS rules regarding audits of partnerships and limited liability companies (LLCs) that will soon take effect. The changes are expected to dramatically increase the IRS audit rates for partnerships and LLCs and will require partners and LLC members to revise their partnership agreement (operating agreement for LLCs). The new rules generally apply to partnership tax years beginning after 2017. Continue reading “Significant Changes to IRS Audits of Partnerships”
John Rittichier, CPA, was named by Louisville Business First as one of the 20 People to Know: Accounting. Rittichier is a Vice President for Harding, Shymanski & Company, P.S.C. and co-leads the firm’s Manufacturing team. He is a Vice President in the firm’s Tax Department and specializes in state and local taxation. Continue reading “Rittichier Named to Louisville Business First 20 People to Know”