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Year End Tax Man

2016 Year End Tax Planning Strategies

SAVILLE CPAs & Advisors 2016 Year End Tax Planning Strategies Considering President-elect Donald Trump’s victory paired with a GOP Congress, it’s likely that tax changes will start next year. The proposed plans provide for the lowering of income tax rates which reduces the value of deductions and exemptions. Therefore, NOW is the time of year to […]

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Cola Increases

COLA Increases for Dollar Limitations on Benefits and Contributions

COLA Increases for Dollar Limitations on Benefits and Contributions The tax law places limits on the dollar amount of contributions to retirement plans, IRAs and the amount of benefits under a pension plan. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases. The new limits are effective January 1, 2017, and […]

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Working Women: An Interview with Andrea Burke

Saville’s very own Andrea Burke was interviewed by Katherine Lewis of USA Today magazine for a piece on restarting your career. Like many women, Andrea went from being a C-P-A to a M-O-M. Coming back into the workforce after twenty-years can be rather intimidating. Especially with rapid technology changes, social networking phenomenon, and common lingo […]

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But There’s Been A Mistake!

Last I checked, all accounting professionals are human. That makes us prone to making mistakes. Not to mention, the sheer volume of numbers that are involved, the various team members working on accounts, the high volume of clients, etc. etc. etc. It’s a miracle that we make as few mistakes as we do. And, this […]

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Theft & Taxes

Identity theft is a growing and frustrating problem in today’s world. Perpetrators run the gamut from sophisticated thieves breaching the security of large retailers to people rummaging through garbage for useful information, to everything in between. We have been warned not to reveal personal information, and to shred documents containing Social Security numbers, account numbers […]

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Looking Forward?

The Securities and Exchange Commission has been conducting a review of the effectiveness of financial disclosures by public companies within and outside of financial statements, and some investors have wondered about where forward-looking statements should fit into them.   A new report from the CFA Institute, Forward-Looking Information: A Necessary Consideration in the SEC’s Review […]

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Poker Problems?

Here’s the story: The U.S. District Court for the Northern District of California held that a taxpayer’s online poker and payment accounts with companies located overseas were subject to reporting on FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).   Hom, a U.S. person, gambled online through internet accounts with PokerStars and […]

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Can I Deduct That?

Many clients ask about deduction costs. The answer is often, “It depends.” That’s because facts and circumstances matter: deductibility may hinge on such specifics as your occupation, whether you’re self-employed, the location of your office or whether you have a diagnosed medical condition. But for many taxpayers, the ones without quirky jobs or unusual circumstances, the […]

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