August 21, 2017

At MWH, our mission is to help our clients and team members succeed.  Our vision is to be the leader in our field, attracting and retaining top, quality clients and team members.  The personal assistance you receive from us comes from members of our team with years of advanced training, technical experience and financial acumen.  […]

New Due Dates for Filing 2016 Forms W-2, W-3 and Certain Forms 1099-MISC
January 9, 2017

  In an effort to reduce identity theft and improve tax compliance, there have been recent modifications to the due dates for forms in the W-2 series (except W-2G), and information returns (Form 1099-MISC) required to report nonemployee compensation. In addition, the IRS no longer allows an automatic 30 day extension to file forms in […]

Post-Election Tax Update
November 15, 2016

  Any change in Presidential Administration brings the possibility, indeed the likelihood, of tax law changes and the election of Donald Trump as the 45th President of the United States is no exception. During the campaign, President-elect Trump outlined a number of tax proposals for individuals and businesses. This letter highlights some of the President-elect’s […]

Employment Credits, Benefits, and Accelerated Filing Due Dates
November 9, 2016

  The Protecting Americans from Tax Hikes (PATH) Act of 2015 provides an extension and modification of several taxpayer-friendly provisions applicable to employers. These credits and benefits are intended to encourage new hiring and to improve employment opportunities for broader classes of individuals, including veterans and working families. In addition, in order to improve compliance, […]

Required Minimum Distributions, Charitable Donations, and the PATH Act of 2015
August 11, 2016

  The Protecting Americans from Tax Hikes (PATH) Act of 2015 makes permanent the exclusion from gross income for qualified charitable distributions of up to $100,000 received from traditional or Roth IRAs ($100,000 for each spouse on a joint return). A qualified charitable distribution is a distribution from the IRA made directly by the IRA […]

Mid-Year Tax Planning and Inflation Adjustments
August 4, 2016

  As we are a little over half-way through the year, individuals will start thinking about year-end tax planning strategies for 2016. Taking into account the official inflation-indexed figures for 2016, this letter puts together a list of typical questions that you, as clients, may have about this year’s inflation adjustments to the tax brackets […]

A Mid-Year Review of Estimated Tax Payments
July 28, 2016

  It’s not a major disaster if you owed some money when you filed your return-after all, you’d rather have the use of the funds for as long as possible. But what you want to avoid is having to pay the IRS a penalty for underpaying your taxes during the year. If you owe the […]

College Expenses, Taxes, and You
July 21, 2016

  As a parent with college-bound children, you are concerned with setting up a financial plan to fund future college costs. If your children are already college age, your goal is to pay for current or imminent college bills. We’d like to address both of these concerns by suggesting several approaches that seek to take […]

End of Year Tax Strategies
November 30, 2015

Dear Client: As the end of the year approaches, there is still time to reduce your 2015 tax bill and plan ahead for 2016. This letter highlights several potential tax-saving opportunities for you to consider. We would be happy to meet with you to discuss specific strategies. For 2015, factors that compound the challenge of […]

Surface Transportation Act of 2015
August 13, 2015

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (H.R. 3236) was signed into law on July 31, 2015. Click HERE for a succinct article outlining changes brought about by this new law. As always, please do not hesitate to contact us to discuss what this may mean for you and your business.   […]

Update on “Repair Regulations” Relief Available to Small Businesses
June 17, 2015

We addressed earlier about the extensive IRS regulations  that (1) address whether expenses incurred in connection with tangible property are immediately deducted or, instead, must be capitalized  and (2) provide for the tax consequences of disposing of tangible depreciable property. As you also may know, these regulations, referred to below as the “repair regs” (and […]

Foreign Reporting Requirement Tips
June 17, 2015

The Foreign Account Tax Compliance Act requires all U.S. citizens and resident aliens to report the existence of and income from foreign accounts.  This includes foreign trusts, banks and securities accounts.  You may need to file one or more of the following forms in order to comply with the Act:   You may have to […]

Sample Capitalization Policy
March 10, 2015

Click here to view a sample capitalization policy. A similar policy should be prepared for your business entity and retained in your permanent files.

2014 Business Asset Capitalization Rules Update
March 10, 2015

Final Regulations on the Capitalization of Tangible Property The IRS and Treasury recently issued final tangible property capitalization regulations. The final regulations  attempt to bring clarity to a complicated area of tax law. Many taxpayers own tangible property that they maintain and repair. Taxpayers may keep spare parts on hand in case the property breaks […]

2014 Tax Updates
February 9, 2015

December 31, 2014 Dear Client: The following is a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage […]