Insights
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Early 2022 Tax Deadlines
February 16, 2022
Hello and happy new year! As we move into the new year, the deadlines for 2021 compliance start to sneak up rather quickly. Below is a summary of the upcoming due dates in the early part of 2022: 1/17/22 – 4th quarter 2021 estimated payments are due 1/31/22 – Form 1099 & W-2 filings are due to […]
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Fall 2021 Tax Updates
November 18, 2021
The 2017 Tax Cuts and Jobs Act introduced a $10,000 limit on the amount of state and local tax (SALT) deductible on individual tax returns. Several states have enacted legislation that allows for SALT deductions at the entity level for pass-through entities. This will allow an opportunity for members and partners in pass-through entities to […]
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Year-End Tax Planning
It’s that time of year to focus on year-end tax planning. With Biden's proposed tax legislation changes, 2021 is an important year for tax planning for you and your business. Early planning will allow us ample time to work together to implement tax-favorable strategies, providing tax savings this year and in the years to come. […]
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Quickly Approaching Tax Deadlines Reminder
January 13, 2021
There are two important tax deadlines over the next three weeks! Please see below for more information. Q4-2020 Estimated Payments Due January 15th, 2021 The final payment for 2020 estimated taxes is due this Friday, January 15th. If you required additional tax planning, or need a revised copy of your vouchers or online payment instructions, […]
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Important Year-End Updates from Siegfried Advisory
November 19, 2020
Hello! As 2020 comes to an end, we wanted to share a few important year-end updates. Election Updates Pending the outcome of legal challenges brought by the campaign and supporters of President Donald Trump, with an inauguration on January 20, 2020, Joe Biden presumably will become the 46th President of the United States. The White House […]
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TAX PLANNING AND THE IMPENDING ELECTION
October 26, 2020
Tax planning is an exercise that many individuals visit with their tax advisors in the later months of each year to ensure that they are taking advantage of all of the potential tax opportunities that are available for their specific situation. This year, being an election year, throws a wrench in the typical considerations of […]
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2016 Protective Refund Claim – ACA Taxes
July 14, 2020
Recent months have been punctuated by new legislation owing to continual shifts in the economic landscape. More changes could be on the horizon. The 2010 Patient Protection and Affordable Care Act (ACA) imposed a “shared responsibility payment” for individuals that did not maintain “minimal essential health coverage”. In 2017, the Tax Cuts and Jobs Act […]
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2020 Estimated Tax Payments
July 2, 2020
The 2020 Q1 and Q2 estimated payment deadline is quickly approaching on July 15th, 2020. Many of you have already received your 2019 tax returns and 2020 estimates, and the rest are forthcoming. Typically, we set most clients up under a prior year safe harbor where 110% of prior year tax is paid in throughout […]
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PPP Loan Guidance Update
June 9, 2020
On June 3, 2020, the United States Senate passed the House version of the Paycheck Protection Program Flexibility Act (“PPPFA”). The PPPFA amends the original Coronavirus Aid, Relief, and Economic Security (“CARES”) Act to loosen restrictions placed on PPP loans, making them potentially more favorable for borrowers. The significant changes to the PPP loan program […]
