Dual Residency and Double Taxation Dilemma for Remote Workers

2020 brought into focus residency rules for remote workers, who ended up staying in “temporary” locations, like vacation homes, for longer than expected.   The following article provides an analysis of situations where individuals may become residents of two states simultaneously and potentially subject to dual taxation.

For more information click here.

By |June 22nd, 2021|Categories: Individual Tax|Comments Off on Dual Residency and Double Taxation Dilemma for Remote Workers

2018 – 2019 Tax Planning Guide

With the end of the year rapidly approaching, we are once again reaching out to share our annual Tax Planning Guide with you. The 2018/2019 Tax Planning Guide is available here www.webtaxguide.net/Bregante.

The Tax Cuts and Jobs Act (TCJA), passed in December 2017, included sweeping tax law changes that will impact individuals and businesses including:

  • Small decreases in most individual income tax rates, elimination of personal exemptions but increased standard deductions depending on filing status, higher exemptions for alternative minimum tax (AMT) which should significantly decrease the number of individuals subject to AMT, increase in the child tax credit and special federal tax breaks for income individuals receive from pass-through entities such as partnerships, limited liability companies and S corporations.
  • Elimination of or limitations to several personal tax breaks […]
By |December 6th, 2018|Categories: Announcements, Business Tax, Individual Tax, Nonprofit Organizations, Real Estate|Comments Off on 2018 – 2019 Tax Planning Guide

2019 Annual Contribution Limit Increase for Retirement Plans

This week the IRS announced increases to the annual contribution limits for 401(k) and IRA accounts, effective January 1, 2019.   Both limits increased by $500, so the new annual contribution limit is $19,000 for 401(k) plan accounts and $6,000 for IRA’s.

For detail on what else changed see the IRS news release here.

By |November 5th, 2018|Categories: Individual Tax, IRS, Retirement Planning|Comments Off on 2019 Annual Contribution Limit Increase for Retirement Plans
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