IRS “NO MAS MULTAS POR NO TENER SEGURO DE SALUD

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El Lunes el Servicio de Rentas Internas (IRS) anunció que a partir de este año de impuestos (2016), los contribuyentes no tendrán que responder a la pregunta 61 del formulario de Obamacare que específicamente pregunta si tuvo seguro de salud durante el año, y los penaliza si no lo tuvieron.   Anteriormente, el IRS rechazaba toda declaración  que no respondiese a esta pregunta.  Si la línea 61 se deja en blanco, el IRS los categoriza como “Declaración Silenciosa”  y entoces la rechaza.

Esta semana, el presidente Donald Trump firmó una orden ejecutiva que repela esa ley, y entró en vigor el 15 de Febrero.  Ahora, bajo este nuevo mandato,  El IRS aseguró que procesará la declaración aunque no responda la línea 61.

¿Qué significa esto? No mas multas por no tener seguro de salud…No habrán multas para las personas que no tuvieron seguro en el 2016, y  esto puede ahorrarle desde $695 a $5,995 en multas. Pero hay un gran dilema: Que la mayoría de los  contadores y preparadores de impuestos todavía no saben esto, o simplemento no saben como proceder y que hacer con esta noticia.

La situación es que el IRS todavía no ha hecho ajustes a su sistema para procesar declaraciones con esta nueva regulación, cuantimenos las compañías que diseñan los Softwares de preparación de impuestos y por ende la mayoría no saben que hacer. Los softwares de preparación de impuestos todavía no están actualizados, y  les hace responder a esta pregunta, y si no la responde, no les permite enviar su declaración electrónicamente.  Bingo…!!

Entonces qué puede hacer?? envíelos por correo convencional, correo certificado (USPS). Pídale a su contador o preparador de impuestos que le imprima la declaración, fírmela y corra a la oficina de correos.

Esta ley ha afectado a una gran parte de la comunidad hispana que no pueden pagar por seguro de salud, y que los ha penalizado  con multas altas.  Gracias a esto, No mas multas por no tener seguro de salud.

Mucha gente me ha llamado y me han preguntado, Henry  donde viste esta noticia, donde esta escrita? Pues aquí, aquí te la pongo por escrito.   La mayoría de los contadores y preparadores de impuestos todavía no lo saben y están constando millones de dólares a sus clientes. Este blog lo escribí con la intención de educar a todos los preparadores de impuestos y contadores que no tienes acceso a esta clase de información.

Si su contador no tiene la información y no sabe cómo proceder recomiendele que me llame y sera un  gusto poder ayudar.

Por Henry O. Aldana

Si tienes preguntas y quieres más información llámame: 301-770-4901                               o envíame un correo electrónico a Haldana@aldanas.com

www.aldanas.com

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IRS adelantan la fecha para declarar impuestos de las LLC

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Se adelantan las fechas límite para declarar impuestos en los Estados Unidos

El Servicio de Rentas Internas anuncio que cambio las fechas limites para las declaraciones de las LLC  reportadas como sociedades en el formulario 1065 de April 15 a Marzo 15. Comenzando esta temporada del 2107 todas las LLC tratadas como sociedades deben reportar su declaracion el 15 de marzo.

El 15 de marzo es la nueva fecha límite para que la mayoría de los LLC’s presenten su declaración de impuestos para el año fiscal 2016. La mayoría de las Corporaciones deben presentar antes del 18 de abril al menos que tributa como “S” Corporations, y deben presentar el 15 de marzo.  Las fechas límite para los informes de nómina comienzan en enero.

 

por Henry Aldana

Haldana@aldanas.com

301-770-4901

The section 179 deduction

 

NEWS ALERT: SECTION 179 IS $500,000 FOR 2016

Jan 1, 2016 –   The “Protecting Americans from Tax Hikes Act of 2015” (PATH Act) was passed by both the House and Senate and signed into law on 12/18/2015. This bill expanded the Section 179 deduction limit to $500,000.

Section 179 Deduction: Until further notice, Section 179 is permanent at the $500,000 level. Businesses exceeding a total of $2 million of purchases in qualifying equipment have the Section 179 deduction phase-out dollar-for-dollar and completely eliminated above $2.5 million. Additionally, the Section 179 cap will be indexed to inflation in $10,000 increments in future years.

Vehicles and Section 179

One of the more popular uses of the Section 179 Deduction has been for vehicles. In fact, several years ago the Section 179 deduction was sometimes referred to as the “Hummer Tax Loophole,” because at the time it allowed businesses to buy large SUV’s and write them off. While this particular use (or abuse) of the tax code has been modified with the limits explained below, it is still true that Section 179 can be advantageous in buying vehicles for your business (especially if you lease or finance the vehicles).

Vehicles used in your businesses qualify – but certain passenger vehicles have a total depreciation deduction limitation of $11,060, while other vehicles that by their nature are not likely to be used more than a minimal amount for personal purposes qualify for full Section 179 deduction. Here are the general guidelines for using the Section 179 Deduction for vehicle purchases (full policy statement available at: IRS.gov ).

50% Bonus Depreciation will be extended through 2019. Businesses of all sizes will be able to depreciate 50 percent of the cost of equipment acquired and put in service during 2015, 2016 and 2017. Then bonus depreciation will phase down to 40 percent in 2018 and 30 percent in 2019.

IMPORTANT: Section 179 for Current 2016 Tax Year (This Year)
Section 179 can provide you with significant tax relief for this 2016 tax year, but equipment and software must be financed and in place by midnight December 31, 2016. Use this 2016 Section 179 Calculator to see how much the Section 179 tax deduction can save your company.

When Do I Have to Do This By?
Section 179 for 2016 expires midnight, 12/31/2016. If you wish to deduct the full price of your equipment from your 2016 taxes and take advantage of the new higher deduction limits, it must be purchased and put into service by then.

Update / IRS Guidelines for Vehicles

The IRS has not yet released guidance concerning Section 179 and Bonus Depreciation as it relates to vehicles for this year. The guidance will be published in the Internal Revenue Bulletin sometime after mid-year. Be patient, and check back here often for the release date.

What are the limits on Typical Passenger Vehicles?

For passenger vehicles, trucks, and vans (not meeting the guidelines below), that are used more than 50% in a qualified business use, the total deduction for depreciation including both the Section 179 expense deduction as well as Bonus Depreciation is limited to $11,060 for cars and $11,160 for trucks and vans.

Exceptions include the following vehicles:

  • Ambulance or hearse used specifically in your business;
  • Taxis, transport vans, and other vehicles used to specifically transport people or property for hire;
  • Qualified non-personal use vehicles specifically modified for business (i.e. van without seating behind driver, permanent shelving installed, and exterior painted with company’s name).

Limits for SUVs or Crossover Vehicles with GVWR above 6,000lbs
Certain vehicles (with a gross vehicle weight rating above 6,000 lbs but no more than 14,000 lbs) qualify for expensing  up to $25,000 if the vehicle is financed and placed in service prior to December 31 and meet other conditions.

Contact  Henry,   Aldana of Aldana & Associates, PSC, LTD 

www.Aldanas.com     (301)770-4901   haldana@aldanas.com    

 

Immigrants and Tax Return Filing IRS Rullin

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Immigrants and Tax Return Filing   

On November 20, 2014 President Obama announced an executive action on immigration which could extend relief from deportation to an estimated 5 million undocumented immigrants.

The administration has not said which documents it will accept, however, we believe that the Citizenship and Immigration Services which vets applications under Homeland Security may require 5 years of accurately prepared tax returns as additional proof of residence if applicants claim to have worked in the United States since their arrival.

Those who have filed accurate tax returns with their Individual Tax Identification Numbers (ITIN) and have retained their records will be light years ahead of those who have not. We recommend that you and your tax preparers get ready to answer tax questions for those applying for this new program.

1.   Make sure you have tax preparation software setup for at least the past 5 years.

2.   Understand what documentation your clients need for a W-7

3.   Paystubs

4.   W-2s

5.   1099 Miscellaneous forms

6.   Paid baby sitter receipts

7.   Traffic tickets

8.   Receipt books

9.   Expense receipts

10. Amending prior year returns (filing status, dependents, earnings, etc.)

11. Searching the Internet may help find documentation

 

Of course we are dealing with individuals who have lived in the shadows for years and gathering information may be very challenging, especially if they have been working under an assumed Social Security Number.

Remind your clients that there is little incentive to lie because getting caught could result in fraud or deportation.

As far as other types of documentation needed, some immigration advocates are taking guidance from the 2012 Deferred Action for Childhood Arrivals program. The DACA program allows travel records, vehicle registrations, baptism records, mortgages, dated bank transactions, etc. http://www.dhs.gov/deferred-action-childhood-arrivals.

Other substantiating evidence suggested by immigration advocates may include utility bills, speeding tickets, dentist or doctor records, money order receipts, movie rental receipts, veterinarian bills, customer loyalty programs, social media postings, a Facebook photo at an amusement park, postmarked letters, whatever it takes to establish a continuous residency.

The search for documents and records is on! Be prepared to help your clients when they ask. As a reputable tax preparer you are a trusted professional to help clients with their taxes and related professional matters.

Carlos C. Lopez, EA

Executive Director

Latino Tax Professionals Association