Senney Says by Jeff Senney Archives - Page 2 of 27

Written by: Jeff Senney, Tax and Business Law Attorney In Notice 2018-54, the IRS informed taxpayers that it intends to propose regulations which address the federal income tax treatment of tax deduction payments made by taxpayers to certain state-established "charitable funds." These funds were created by...

Read MoreRead More

Major Estate Tax Changes in New Tax Cut

John Clough

Estate Planning, Trust & Probate, John E. Clough, Legal News, Legal News for Individuals, News, Probate, Estate Planning and Elder Law, Senney Says by Jeff Senney

Much of the discussion about the recently passed tax cut has focused on the changes to the income tax. This is warranted given the amount of money involved with the income tax changes. However, if you are one of those, now fewer, taxpayers who still...

Read MoreRead More

2018 Depreciation Limits for Passenger Autos

Jeff Senney

Business, Tax & Real Estate, Legal News for Businesses, Senney Says by Jeff Senney

The IRS has released the IRC Section 280F depreciation limits for business passenger automobiles placed in service by the taxpayer in 2018, taking into account the changes made by the recently enacted Tax Cuts and Jobs Act (TCJA). The IRS has also released the annual...

Read MoreRead More

Helping at the House of Bread

Jan Burden

Christie Back, Firm News, Press Releases, Senney Says by Jeff Senney

Below, Attorneys Jeff Senney and Christie Back help out at the House of Bread. The House of Bread has been a part of Dayton for over 30 years. They were founded with the belief that no one deserves to go hungry. They Prevent hunger by offering a...

Read MoreRead More

Should You Convert Your S corporation to C corporation ?

Jeff Senney

Business, Tax & Real Estate, Legal News for Businesses, Legal News for Individuals, Senney Says by Jeff Senney

Articles of Incorporation Should you convert your S Corporation to a C Corporation? Under the recent federal tax act, the highest corporate income tax rate in 2018 will be 21%. That is significantly lower than the highest individual income tax rate of 37%. This significant rate...

Read MoreRead More

Student Status Expires, What’s Next?

Christie Back

Business, Tax & Real Estate, Christie Back, Immigration Law, Immigration Law, Legal News, Legal News for Businesses, Legal News for Individuals, Senney Says by Jeff Senney

With graduation season quickly approaching, students are looking to the future. For some, finding a job is the biggest battle they are facing. For others, graduation means the termination of lawful student status in the United States. If you are a student looking for legal...

Read MoreRead More

Employer’s Liability for FICA Taxes Can be Offset by Self-Employment Tax Paid by Workers

Jeff Senney

Legal News, Legal News for Businesses, Matthew D. Stokely, Senney Says by Jeff Senney, Workers' Compensation and Employment Law

In a recent Chief Counsel Advice (CCA), the IRS concluded that an employer who misclassified employees as independent contractors could offset FICA taxes owed by the employer with self-employment taxes paid by the workers. Where workers are properly classified as employees, the employer is liable for...

Read MoreRead More

2017 Tax Return Filing Requirement – Complying with Individual Mandate Provisions

Jeff Senney

Legal News for Individuals, Senney Says by Jeff Senney

On the online Affordable Care Act (“ACA”) Information Center for Tax Professionals, the IRS stated that they will not accept electronically filed 2017 tax returns that do not indicate the taxpayer complied with the individual mandate provisions. Returns will not be considered complete and accurate...

Read MoreRead More

Marriage, Children and Divorce

Matt Sorg

Legal News, Legal News for Individuals, Litigation, Matthew C. Sorg, Senney Says by Jeff Senney

“Women always think men will change, but they don’t. Men think women won’t change, but they do.” Luther, BBCTV, Series 1, Episode 4. Not that we need Hallmark to remind us of the need to express our love for our significant others, the other side of...

Read MoreRead More

Cadillac Tax Suspended. Again

Jeff Senney

Business, Tax & Real Estate, Legal News, Legal News for Businesses, Legal News for Individuals, Matthew D. Stokely, Senney Says by Jeff Senney, Workers Compensation & Employment, Workers' Compensation and Employment Law

Under the Affordable Care Act, a 40% excise tax, often referred to as a “Cadillac tax”, was originally scheduled to apply for tax years beginning after 2017. This Cadillac tax was to be levied on the “excess benefit” provided to an employee by an employer-sponsored...

Read MoreRead More