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Tax Briefing(s)

As lawmakers prepared to recess for November elections, they also passed several tax-related bills in September. The bills addressed IRS operations, deductions, and more. At the same time, House and Senate negotiators reached an agreement to avoid a federal government shutdown, including the IRS, after the end of the current fiscal year.

An early glimpse at the income tax picture for 2017 is now available. The new information includes estimated ranges for each 2017 tax bracket as well as projections for a growing number of inflation-sensitive tax figures, such as the tax rate brackets, personal exemption and the standard deduction. Projections – made available by Wolters Kluwer Tax & Accounting US – are based on the relevant inflation data recently released by the U.S. Department of Labor. The IRS is expected to release the official figures by early November. Here are a few of the more widely-applicable projected amounts: 

It’s not too early to get ready for year-end tax planning. In fact, many strategies take time to set up in order to gain maximum benefit. Here are some preliminary considerations that may help you to prepare.

Federal tax law allows taxpayers to exclude from income “qualified transportation fringe benefits.” Included in this category of benefits are van pools.

A federal tax lien on real or personal property may be terminated or altered in the following ways:

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of October 2016.

BDO Alliance USA

As an independent member of BDO Alliance USA, we are able to draw upon the resources and experience of BDO USA, LLP and other Alliance members.


At Gibbons & Kawash, A.C. our focus is responding to your needs and exceeding your expectations. We combine broad technical knowledge developed from years of experience with an entrepreneurial approach to problem-solving to help our clients meet all the challenges before them. An extensive library of accounting, auditing, and tax planning materials and the latest in state-of-the-art technology are valuable tools in our development of innovative solutions. But perhaps the most important element in our approach is the personalized service that enables us to develop and maintain an in-depth knowledge of your business. Our professionals take the time to listen and acquire a thorough understanding of your business needs.

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OT Rules

How Might the New Overtime Rules Affect Your Business?

A new DOL rule will change the way employers determine which white-collar employees are entitled to additional pay for overtime hours worked. Once the rule takes effect, an estimated 4.2 million additional salaried workers could become eligible for overtime pay.

SCINs Estate Plan

SCINs Make Sense for Some Estate Plans

People who use a self-canceling installment note (SCIN) as an estate planning tool take an informed risk that they won’t reach their actuarial life expectancy. This article explores how a SCIN can fit into an estate plan and the benefits for certain individuals.

Bad Debt

Bad Debt - It May be "Bad," But You Still Need to Know How to Account For It

If it eventually becomes clear that a business customer either can’t or won’t pay an invoice, this results in a business bad debt. Find out exactly what defines a “bad debt” and how to account for bad debt write-offs.


Taking Advantage of the PATH Act - QSBS Offers Potentially Lucrative Tax Breaks

Explore the attractive tax breaks for those investing in qualified small business stock (QSBS), notably capital gains exclusions, and the criteria required for a company’s stock to be considered QSBS.

A History Of Service

Over 20 years ago, our firm was founded on a commitment to provide clients with the highest quality services and professional guidance. That commitment remains paramount, and is deeply rooted in every aspect of our practice. It is the reason Gibbons & Kawash has become one of the area's leading accounting and consulting firms.

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