Latest News

College Costs are on the Rise – Again

The College Board reports that the average published charges for tuition, fees, room, and board at private, nonprofit, four-year schools were over $45,000 in the 2016–17 academic year. At public universities, the average charge was around $20,000 for state residents. Both numbers are the highest on record. Such expenses for higher education are daunting, but the reality may be less onerous. Many... Read More

August/September Dates to Remember

August 10 Employers. For Social Security, Medicare, and withheld income tax, file Form 941 for the second quarter of 2017. This due date applies only if you deposited the tax for the quarter in full and on time. August 15 Employers. For Social Security, Medicare, withheld income tax, and nonpayroll withholding, deposit the tax for payments in July if the monthly rule applies. September 15... Read More

Major Areas Addressed in President Trump’s Tax Plan

As a candidate in 2016, Donald Trump promised significant tax reform. A few months after becoming President, Trump released a one-page outline of his goals in that area. As the year goes on, we may see details added to his plan and eventually learn whether major tax legislation is enacted. Here are the major areas that will be addressed. Taxes on business Trump wants to cap the corporate income tax... Read More

College Savings: Why 529 is the Magic Number

Parents with young children have two broad choices when investing for higher education. One is to invest as you did before you had children, with assets in taxable and tax deferred accounts, under your own names. This will give you maximum flexibility in terms of investment choices and tax planning. When the time comes, you can peel off assets to pay college bills. (Financial advisers may advise... Read More

Passport Control Under Code Section 7345

In 2015, President Obama signed the Fixing America’s Surface Transportation (FAST) Act in order to provide long-term funding certainty for federal, state, and local surface transportation. Included in this act was a provision that comes with significant impact for U.S. citizens and permanent residents living abroad called Code Section 7345 which authorizes the IRS to control issuance and termination of... Read More

The Work Opportunity Tax Credit

The Work Opportunity Tax Credit (“WOTC”) is a Federal credit provided to employers hiring persons belonging to specific groups, and there are special guidelines with extended credit for qualified veterans. The goal of the WOTC is two-fold: first is to help targeted workers move from economic dependency to self-sufficiency by earning a steady income and becoming contributing taxpayers, and second... Read More

HLB International Appoints New Member in Switzerland

HLB International, one of the leading global accountancy networks with presence in 140 countries, continues its growth with the recent signing of a new member firm in Switzerland – Veco Group. Veco Group is based in Lugano, a city in Southern Switzerland’s Italian-speaking Ticino region. Established in 1998, the firm provides Tax and Estate Planning, Establishment and Management of... Read More

IRS Continues to Expand Taxpayer Services with New Account Features

The Internal Revenue Service announced today the addition of several new features to the online account tool first introduced late last year as part of the IRS’s commitment to improve and expand taxpayer services. The online account allows individual taxpayers to access the latest information available about their federal tax account through a secure and convenient tool on IRS.gov. When it first launched... Read More

Valuable Tax Credits for Manufacturers and Distributors

Many Federal and Georgia tax credits are available to manufacturers and distributors, though they are often overlooked and go unused. With proper planning and assessment, these credits can go a long way toward improving the bottom line. Following is a summary of some of the more recognizable credits available. In the coming months we will delve into the details of each type of credit. Research &... Read More