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  • Compare and Contrast the House and Senate Tax Bills

    November 14, 2017
    Many of the House and Senate provisions are similar. For example, both plans would repeal the alternative minimum tax and retain the charitable contribution deduction. However, there are a number of key differences. Here’s a look at some of the most significant.... Read more
  • Sweeping Tax Changes Proposed in House-Released Bill

    November 9, 2017
    On November 2, after months of discussion, the U.S. House Ways and Means Committee released its sweeping bill to reform the tax code. Here’s a brief rundown of some of the individual and business provisions in the 429-page Tax Cuts and Jobs Act. Generally, the changes would go into effect after December 31, 2017, but there are exceptions.... Read more
  • Looming Tax Reform Creates Planning Challenges

    October 31, 2017
    As the end of 2017 approaches, the prospect of dramatic tax reform makes year-end tax planning especially challenging for businesses. There’s a great deal of uncertainty over when — and if — tax reform will be implemented and which proposals could make their way into possible new tax legislation.... Read more
  • SVA Cyber Security Update - Wi-Fi Krack: Steps you can take to help protect yourself

    October 20, 2017
    Many of us have read the alarming warnings stating “All Wi-Fi networks are vulnerable to hacking” and inferring “no one is safe”.The challenge many have is deciphering the technical jargon to understand the steps individuals and organizations can take to protect themselves.... Read more
  • GOP’s Proposed Tax Reform Plan Significantly Changes the Rules

    September 29, 2017
    Earlier this week, U.S. Senate Republicans declined to vote on the Graham-Cassidy health care bill because there weren’t enough votes to pass it. Yesterday, President Trump and Republican congressional leaders turned their attention to tax reform by releasing an outline of their long-awaited tax reform plan. The nine-page “Unified Framework for Fixing Our Broken Tax Code” is intended to serve as a template for the congressional committees to draft legislation to cut tax rates, simplify the tax code and provide a more competitive environment for businesses. It addresses tax issues that affect both individuals and businesses.... Read more
  • Credit for Start-Up Costs Related to Retirement Plan

    September 19, 2017
    If you are a small employer who recently established a retirement plan for your employees (or are thinking of setting one up), you may be eligible for a tax credit related to your implementation costs. ... Read more
  • Equifax Breach

    September 12, 2017
    By now you have likely read the headlines or heard the news about the enormous security breach at Equifax. Because safeguarding your identity is so important, we suggest you read and take action to proactively protect your credit as detailed below from Horsesmouth Savvy Cybersecurity™... Read more
  • MTC Online Marketplace Seller Voluntary Disclosure Initiative

    September 7, 2017
    With the ever changing budget issues at the state and local levels, sales and income taxes are becoming more strategic revenue sources to address these issues. Recent rulings in many states recognize that sellers in any online marketplace must adhere to the sales and income tax rules at the state and local levels, not the third-party marketplace fulfiller. This means that if you participate in any third-party Online Marketplace (such as Amazon or Walmart, to name two) where the Marketplace holds your inventory for order fulfillment or otherwise facilitates your sales, there may be sales and/or income tax obligations in states you did not realize.... Read more