Tax and Business Alert - October 2015



Welcome to this month's edition of the Tax and Business Alert. Our goal is to provide you with current articles on various tax and business topics. The articles are intended to keep you up to date on trends and issues that may impact your business and personal financial affairs. Please contact us if you have questions about any of the issues discussed.

TIME TO START YEAR END TAX PLANNING
As the end of the year approaches, it's important for taxpayers to address a number of issues they may face. How much money should be set aside next year in a 401(k) or FSA? What securities should be sold to offset gains? And how might the additional Medicare tax, net investment income tax, and alternative minimum tax come into play? This article discusses these and other tax planning questions. Read more...

TAX CALENDAR
This article offers key tax reporting deadlines for businesses and individuals for the final quarter of 2015. Read more...

SHARED EQUITY FINANCING ARRANGEMENTS FOR HOME OWNERSHIP
Adult children may be able to acquire a more expensive home than they might otherwise afford by using a shared equity financing arrangement, under which parents or other relatives share in the purchase and cost of maintaining a house used by the children as a principal residence. This article explains how the arrangement works and discusses the tax implications. Read more...

DUE-DATE CHANGES FOR PARTNERSHIP AND C CORPORATION RETURNS
On July 31, 2015, the Highway Act was signed into law, providing a three-month extension of the general expenditure authority for the Highway Trust Fund. Part of this extension was paid for by changes to tax compliance provisions, the most significant of which is a change to the longstanding due date for C corporation [Form 1120 ("U.S. Corporation Income Tax Return")] and partnership [Form 1065 ("U.S. Return of Partnership Income")] returns. This article notes these forms' due dates, beginning with 2016 returns. Read more...

This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use. The information contained in this newsletter was not intended or written to be used and cannot be used for the purpose of (1) avoiding tax-related penalties prescribed by the Internal Revenue Code or (2) promoting or marketing any tax-related matter addressed herein. © 2015