Lumsden McCormick makes available Tax Guides to aid in your tax preparation. These guides reflect current changes made to the law and provide strategies to help plan for both personal and business financial success. Contact Maria Gambacorta at email@example.com to receive a printed copy of any of the following resources:
For current articles related to business and individual tax issues visit our tax publications page.
2016 NYS Tax Return New Requirements Notice
In an effort to help protect your identity New York State requires an ID to be provided in order to e-file this year.
Tax Filing Deadline Changes
Lumsden McCormick has published a summary of the various new due dates, which are generally effective for tax years beginning in 2016 (i.e., returns prepared in 2017).
Tax Planning Guide 2016 - 2017
Improve your tax season results and strategies throughout the year by using our 2016-2017 Tax Planning Guide. The Guide is updated annually to reflect current changes made to the law and provides strategies to help you plan for both personal financial and your businesses financial success.
2016 Year-End Tax Planning for INDIVIDUALS
Source: BDO Alliance USA
Your 2016 year-end tax planning begins with a projection of your estimated income, deductions, and tax liability for 2016 and 2017. You should review actual amounts from 2015 to assist you with these projections. To the extent you can control the timing of income and deductions between 2016 and 2017, you should make decisions that will result in the lowest overall tax for both years. If shifting income and deductions between 2016 and 2017 does not reduce your overall tax liability, you should try to defer as much tax liability as possible from 2016 to 2017.
2016 Year-End Tax Planning Individuals (24 pages)
2016 Year-End Tax Planning Letter for BUSINESSES
Source: BDO Alliance USA
The time to consider tax-saving opportunities for your business is before its tax year-end. Some of these opportunities may apply regardless of whether your business is conducted as a sole proprietorship, partnership, limited liability company, S corporation, or regular corporation.
Other opportunities may apply only to a particular type of business organization. This Tax Letter is organized into sections discussing year-end, and year-round, tax-saving opportunities for
- All businesses
- Partnerships, limited liability companies, and S corporations
- Regular (C) corporations
2017 Federal Tax Rate Guide
The 2017 Tax Rate Guide provides rates for everything from individual income tax rates to long-term care insurance to depreciation classes and methods. This functional 2-page document is easy to use and a year-round resource.
2016 Year-End Tax Planning (8 pages) Source: CCH Wolters Kluwer
Source: CCH Wolters Kluwer
A glance at the necessary information and strategies you can use today as you plan for 2017 and beyond. Highlights include: Tax Law Changes, Permanent/Sunsetting Extenders, Business Expensing Opportunities, the Affordable Care Act and the New Administration/Congress.
2016 Year-End Tax Planning Guide (8 page pdf)
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