Ideal for use as a school calendar, church calendar, personal planner, scheduling reference, etc. The fiscal year planner for accountants, financial managers, bursars, local authorities, etc. Year planner wall chart diary calendar calender calandar public holidays bank holidays free. Dividend tax credit will be abolished and will be replaced by a new dividend tax allowance of. Employers and persons who pay excise taxes also should use the employers tax calendar and the excise. Tax challenges in the digital economy european parliament. Form 1040 department of the treasuryinternal revenue service 99 u. While little happened in the way of tax legislation in 2016, there are certain tax breaks from which you may benefit and certain. Tax organizer org0 a copy of your tax return if not in our possession. A financial planner can help you make the decision. We offer several ways for you to obtain maryland tax forms, booklets and. Get free checklists from taxact to help you prepare for common tax forms including form 1040, form 1065. The 2016 17 fiscal year planner is in word format so its easy to change it to your favourite colours and to print it in a3, a4 or a5 size.
Yearend financial and tax planning for employees in 2015. Year planners are useful when most days weeks and months in the uk are work days and some are weekends or public holidays or bank holidays like easter, christmas, may day and whitsun. December is the season for endofyear tax planning, and the looming potential for individual income tax reform in 2017 with proposals from both presidentelect trump, and the house gop makes planning in 2016 more complex, but also potentially more beneficial. The average tax rates measure the part of gross wage earnings or labour. Levin swedler kennedy yearend tax planning for 2016 akroncpa. Watch for one of the following forms in the mail in early 2016 to help in reporting health insurance coverage. Bmo private bank october 2015 deductions for businesses. The tax year calendars are suitable for use as a general financial planner, financial year planner, monthly or yearly financial planner, tax year planner, tax payment. Year end tax planning december 2015 to our clients and friends.
Nov 16, 2016 levin swedler kennedy year end tax planning for 2016 posted on november 16, 2016 by akroncpa with the presidential and congressional elections of 2016 behind us and the end of the year approaching, now is a prudent time to consider tax planning strategies to reduce your tax bill for 2016 and possibly future years. The more prepared you are the better off youll be, especially if youre worried about owing money to uncle sam. The 2016 essential tax and wealth planning guide tax. Taxation of passive investment income earned by private corporations small business deduction limit is. Dont worryyou dont need an accounting degree to make some smart tax decisions. Prepaid expenses can generally be deducted only in the year to which they apply. All calendar templates are free, blank, and printable. Despite the current uncertainties, keeping the line on your taxable income is more important than ever given todays high top tax rates and additional taxes on net investment income. Enjoy a calm yearend yearend financial and tax planning will be more peaceful and certain in 2015 than it may be during the next few years. By knowing and understanding important tax laws and regulations you can avoid some potentially huge. Actions taken before the end of a year can significantly affect the taxes youll owe for that year. The calculations are based on tax law data for the year 2015. If you want to pay the least amount of income tax each year, then it may be helpful to start doing some tax planning. We will be planning a similar workshop to discuss the new tax laws and what steps you can take to only pay your fair share if you would like to be invited, click the find an advisor link and type add me to be invited to 2018 tax laws workshops.
For some people, this can present major opportunities for reducing taxes for 2016 by. The guidance received in 2016 is the same guidance that we can apply now. By following yearend tax tips, you can prepare in 2019 to save on taxes in 2020. The concept of tax gaps report on vat gap estimations. Even though the 2015 tax season is still several months away, nows a good time to go over your financials and fine tune your tax planning strategy. How you time your income and deductions matters u sually it makes tax sense to accelerate as many deductible expenses as you can into the current tax. If youre owed a refund, you can still claim it, and if you owe the irs money, theyll still be glad to receive it. Yearend tax planning strategies for individuals atlanta. The likelihood of tax changes in 2016, a presidential election year, is very low. Levin swedler kennedy yearend tax planning for 2016. Interest income from all listed bonds 3year maturity or more used to raise. Publications office of the european union, 2016 doi. Read more top 8 yearend tax tips learn these top 8 yearend tax tips in order to maximize your tax refund or minimize the taxes you owe.
Details and analysis of the 2016 house republican tax reform plan. Enjoy a calm year end year end financial and tax planning will be more peaceful and certain in 2015 than it may be during the next few years. How you time your income and deductions matters u sually it makes tax sense to accelerate as many deductible expenses as you can into the current tax year and defer income to the next year to the extent possible. Copies of other compensation or pension documentation, such as form 1099misc or form 1099r. For tax year 2020, this means april 15, 2021, or if a taxpayer gets a taxfiling extension. Yearend tax planning guide 20162017 in these times when many substantial and comprehensive changes are being made in tax regulations and there is so much uncertainty as a result, tax planning takes on a far more important role. Year end tax planning december 2015 to our clients and. The short answer is yes, you can still file a 2016 tax return. The yearend tax planner is designed primarily for individuals who have accumulated some wealth or own their own businesses large or small.
Dec 19, 2016 yearend tax planning strategies due to trumps election. Individual income tax planning individual income tax rates by type of income holding period short term 1 year or less long term more than 1 year 0year 1year 2year todays increased tax rate environment look again at current tax rates by type of income individual income tax. The prospect of taxrate increases or decreases is thus not a big factor in decisionmaking at year end 2015. Proper year end planning can help alleviate any unnecessary tax burden. Ensure that qualified property is actually placed in service before the end of the year. The impact of tax planning on forwardlooking effective tax rates. Taxation papers are written by the staff of the european commissions directorategeneral for taxation and. It includes nine yearend tax planning checklists and several tables of useful information. The gross tax gap is defined as the difference between true tax liability for a given tax year. The pace of activity may change next year, with a new administration and ongoing talk of tax reform, and 2017 could bring welcome and needed improvements. Qualifying widow er what was your age on december 31, 2016. Aggressive tax planning indicators final report european. This change will affect taxpayers who used to take the itemized deduction versus the new standard deduction amount in 2018.
You should be aware of the changes, and now is the time start your yearend tax planning, understand what actions can be taken to reduce taxes, and be aware of your 2016 tax liability so you can plan to file early if a refund exists or to set funds aside if. As the end of the year approaches, now is the time to think of. Taking action before the end of the tax year may give you the opportunity. Year end tax planning december 2015 to our clients and friends, yearend planning will be challenging again this year. Once again, tax planning for the year ahead presents a number of challenges, first and foremost being what tax reform measures if any will actually. Tenyear revenue impact of the house republican tax plan.
A little tax planning can be a big help at tax time each year. Levin swedler kennedy yearend tax planning for 2016 posted on november 16, 2016 by akroncpa with the presidential and congressional elections of 2016 behind us and the end of the year approaching, now is a prudent time to consider tax planning strategies to reduce your tax bill for 2016 and possibly future years. The tax rates in this version will very likely change during the course of the 2016 calendar year. The new rates of tax on dividend income above the allowance will be 7. The reality is that one year later, not much has changed except that we know a little more about what to expect. State and local income taxes and property taxes, for example, are not deductible under the amt. Tax avoidance, tax fraud and tax evasion amount to annual tax. Free account rollover and backups of completed tax returns are included. For some people, this can present major opportunities for reducing taxes for 2016 by making some key yearend tax planning moves. Estimate the effect of any yearend planning moves on the amt for 2016, keeping in mind that many tax breaks allowed for purposes of calculating regular taxes are disallowed for amt purposes. Taxable year 2016 california resident income tax return form 540 fiscal year filers only. Here are four things you can do this summer to improve your standing when tax time rolls around again. A 2020 wall chart or 2021 wall chart, whether a3, a4 or a5, a 2020 calendar or 2021 calendar or a 2020 year planner or 2021 year planner, or even a 2020 diary or 2021 diary shows when working days and bank holiday days fall in the calendar. Yearend tax planning and whats new for 2016 sponsored by.
Click to download for pdf calendars for the next year see. Nov 10, 2017 once again, tax planning for the year ahead presents a number of challenges, first and foremost being what tax reform measures if any will actually become legislationand when they take effect. Your 2017 year end tax planning begins with a projection of your estimated income, deductions, and tax liability for 2017 and 2018. If you do not have to file a 2016 income tax return, complete and file form 5329 by itself at the time and place you would be required to file form 1040 or form 1040nr. Summer is in full swing and next years tax filing deadline is probably one of the last things on your mind. Yearend tax planning guide 20142015 deloitte israel tax.
Financial planning update tax planning for yearend and yearround ideally, however, tax planning should be a yearround event, and. To the extent you can control the timing of income and deductions between 2017 and 2018, you should make. Manual withholding tax certificates no longer required as they are no. Nonworking days for many years, increasingly people work on bank holidays and other traditional calendar days of rest.
Proper yearend planning can help alleviate any unnecessary tax burden. The fiscal year planner is in word format so its easy to change it to your favourite colours or change the size to a3 or a5. The maximum contribution for 401k and 403b plans remains the same as last year. Ask your tax advisor for the latest information on whether any have been extended. These include the deduction for state property taxes on your residence, state income taxes, miscellaneous itemized deductions, and personal. Financial calendars 201516 uk in pdf format calendarpedia. Financial calendars 201617 uk in pdf format calendarpedia. The fiscal year planner for accountants, tax and financial officers, those in the public sector, etc shows 1617 public holidays in england and wales. Whether youre filing your tax return or doing more longterm tax planning, were here to help. File form 5329 with your 2016 form 1040 or form 1040nr by the due date, including extensions, of your form 1040 or form 1040nr.
Year end tax planning guide 2016 2017 in these times when many substantial and comprehensive changes are being made in tax regulations and there is so much uncertainty as a result, tax planning takes on a far more important role. The house republican tax reform plan would reform the individual. Yearend planning strategies can save and defer taxes for business owners. We answer your questions through email and the account message center. Yearend financial and tax planning for employees in 2019. Compare standard versus itemized deductions your current or planned 2019 itemized deductions might be more than your standard deduction. So, if you expect to be subject to the amt in 2016, dont pay the installments that are due in january 2017 in december 2016. Financial planning update tax planning for yearend and year. The prospect of taxrate increases or decreases is thus. Nov 04, 2016 estimate the effect of any yearend planning moves on the amt for 2016, keeping in mind that many tax breaks allowed for purposes of calculating regular taxes are disallowed for amt purposes.
Financial planning update tax planning for yearend and. Excluding payroll taxes which pay for social security and medicare federal tax revenues declined to 11. Last year, when president trump was presidentelect trump, we wrote an article titled the estate tax may be dying but estate planning is not. These include the deduction for state and local property taxes on your residence, state income taxes, miscellaneous itemized deductions, and personal. In addition, since the tax may not be due until april of 2017, you have an entire year of interest accruing on the savings. This annual publication provides details of taxes paid on wages in. Yearend tax planning is essentially a matter of projecting your gross income for the year and looking for ways to minimize your taxable income. For 2016, there are several tax changes, phaseouts, and updates that will apply to this tax year for business and individual tax filers. Checklist for yearend tax planning sta wealth management. The 201617 fiscal year planner is in word format so its easy to change it to your favourite colours and to print it in a3, a4 or a5 size. Tax planning checklists 2016 end of year by jim lee. Your 2017 yearend tax planning begins with a projection of your estimated income, deductions, and tax liability for 2017 and 2018. Individual tax forms and instructions comptroller of maryland.