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In This Issue
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CPA News:
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 Tax Cuts and Job Act
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Mileage Rates for 2018
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Avoid an Audit
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College Students as Dependents
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| Connect With Us
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| Services |
- Income Tax Preparation for all types of businesses and individuals
- IRS, State and Local Audit Representation
- Trust, Estate and Gift Compliance
- QuickBooks setup, support and training
- Business startup services
- Monthly bookkeeping
- Financial statements
- Family Office
- Nonprofit Administration
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| Additional Updated Information |
| November 2017 Newsletter |
| December 2017 Newsletter |
| Calendar of Filing Dates |
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JANUARY
16 - Individuals: Pay last installment of 2017 estimated tax with Form 1040-ES.
31 - Employers: Distribute copies of Forms W-2 for 2017 to employees and file same with the Social Security Administration. File Forms 1099-MISC if you are reporting nonemployee compensation payments in box 7. File Form 941, Employer’s Quarterly Federal Tax Return; quarterly deposit due. File Form 940, Employer’s Annual Federal Unemployment FUTA) Tax Return, for 2017.
31 - Business: Distribute Forms 1099 (or other information statements) to recipients of certain payments made in 2017. See us for more details.
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Tax Cuts and Job Act
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The Tax Cuts and Jobs Act was officially signed into law by President Trump on Friday, December 22, 2017, and is said to be the largest tax reform bill to go through since the Regan-era Tax Reform Act of 1986.
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Mileage Rates for 2018
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The IRS recently announced mileage rates to be used for travel in 2018. The standard business mileage rate increased by 1 cent to 54.5 cents per mile. The medical and moving mileage rates also increased...
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The Best Way to Avoid an Audit: Preparation
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Getting audited by the IRS is no fun. Some taxpayers are selected for random audits every year, but the chances of that happening to you are very small. You are much more likely to fall under the IRS’s gaze if you make one of several common mistakes.
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Claiming College Students as Dependents
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Does your child/college student qualify as your dependent? If so, you may be eligible for certain tax breaks.
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To learn more about Katz Viola Lebenhart & Mauro, LLP,
visit www.kvlmcpa.com.
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