Tax Central

We are dedicated to keeping clients abreast of the latest tax law changes, planning strategies and vital tax-related information. This section includes a library of timely articles, due date reminders and much more. The articles are categorized by subject matter, which can be accessed from the links.
Click on your topic of interest and find a wealth of information.

Recently Enacted Tax Breaks for Small Businesses

Keeping track of tax changes these days is quite a task. Congress is constantly tweaking the tax laws in an effort to stimulate the economy and deal with the budget deficit. The following is a compilation of recent changes to keep you up date.

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Employer Tax-Free Medical Benefits Available to Children Under Age 27

As a result of changes made by the recently enacted Affordable Care Act, health coverage provided for an employee's children under 27 years of age is now generally tax-free to the employee, effective March 30, 2010.  Generally, under pre-Act law, to be a qualifying child of a taxpayer for this purpose the child must have been the taxpayer’s dependent under age 19 (or under age 24 in the case of a full-time student).

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How Will the Health Care Bill Affect Your Taxes?

On March 23, 2010, President Obama signed into law the new health care legislation.  The legislation will affect virtually every individual in one way or another and will significantly impact tax returns in the future.  The following overview of the tax-related provisions of the legislation is based upon the House of Representatives’ version and the one signed by President Obama on March 24, 2010.  At the time this article was prepared, the Senate was taking up the measure, but it is expected to pass without changes since only a simple majority is required.

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