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Reilly Tax Advisor

2017 Q1 tax calendar: Key deadlines for businesses and other employers

Jan 17, 2017

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2017. This list isn’t all-inclusive, so there may be additional deadlines that apply to you.

Reilly Tax Advisor

Deduction for state and local sales tax benefits some taxpayers, but not all

Jan 17, 2017

The federal tax break allowing taxpayers to take a deduction for state and local sales taxes in lieu of state and local income taxes was made permanent a little over a year ago. This break can be valuable to those residing in states with no or low income taxes or who purchase major items, such as a car or boat.

Reilly Tax Advisor

Year-end tax strategies for accrual-basis taxpayers

Nov 21, 2016

The last month or so of the year offers accrual-basis taxpayers an opportunity to make some timely moves that might enable them to save money on their 2016 tax bill.

Reilly Tax Advisor

Entrepreneurs: What can you deduct and when?

Mar 30, 2016

Starting a new business is exciting, but involves a lot of costs. Entrepreneurs often are unaware that many startup expenses aren't tax deductible right away.

Reilly Tax Advisor

Massachusetts offers two-month tax amnesty to individuals and businesses

Jan 18, 2016

The Commonwealth of Massachusetts will offer individual and business taxpayers an opportunity to come clean on back taxes owed without incurring penalties, the state’s Department of Revenue has announced.

Reilly Nonprofit Advisor

The Season of Giving – Substantiation requirements for charities

Jan 06, 2016

Many charities receive a substantial part of their support during the holiday season. In order to assist donors in steering clear of difficulties with the IRS, you want to make sure the supporting documentation your charity provides will meet the requirements for a valid charitable deduction.

Reilly Tax Advisor

Ho-ho-ho: Merry Tax Extenders

Dec 17, 2015

‘Tis the season of giving, and a normally parsimonious U.S. Congress has been possessed of a suddenly generous mood – after much wrangling and at the last minute.

Reilly Tax Advisor

7 last-minute tax-saving tips

Dec 15, 2015

The year is quickly drawing to a close, but there’s still time to take steps to reduce your 2015 tax liability — you just must act by December 31.

Reilly Tax Advisor

IRS raises tangible property expensing threshold to $2,500 for small businesses

Nov 30, 2015

IRS raises tangible property expensing threshold to $2,500 for small business in a move that will simplify filing and recordkeeping.

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