December 2016 Newsletter

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Welcome!

Welcome to this month’s issue of KnowledgeApplied. The end of the year is fast approaching, so our first article includes a link to our Tax Planning Guide for 2016.  The United States will be inaugurating a new president in the New Year; one of our tax managers, James Murrey, offers some thoughts below on how it might affect your taxes.  Our spotlight article features one of our senior audit managers, Jill Cohen.  And, to further help you with your end-of-the-year tax planning, we have included tax tips on determining if your gift is taxable and on deductibility of year-end charitable donations, which include input from another of our tax managers, Brytni Gonzales.

Thanks for reading,
Dave Doran
Managing Partner

Tax Planning Guide 2016-2017

We're nearing the end of 2016, and to help you with your tax planning for the year we're pleased to present to you our tax planning guide.  It shares helpful information about ways you can minimize your tax burden. Most tax reduction strategies must be implemented by December 31, and some even earlier.  Please contact your White Nelson Diehl Evans LLP representative who can help you map out...

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Tax Impact of the 2016 Election Results

Trump and taxes possible tax revisions due to the election of donald trump

Throughout the U.S. presidential campaign, tax reform was a major talking point of candidate (now president-elect) Donald J. Trump.  With his election on November 8, here is a summary of potential tax changes that may come after his inauguration: Individuals Tax Rates Ordinary income tax rates across the board will be cut to just three marginal rates: 12, 25 and 33% (chart below...

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Manager Profile: Jill Cohen

Profile Spotlight jill Cohen

Jill Cohen is a Senior Audit Manager for WNDE’s Financial Reporting and Consulting Division.  In this role, she manages audits, reviews and compilations.  She assists with audits of clients in the fields of manufacturing, distribution, retail, restaurants, trusts and nonprofit.  Jill also audits 401(k) plans and provides agreed upon procedures and consulting services and interim controller...

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Tax Tips to Help You Determine if Your Gift is Taxable

If you gave money or property to someone as a gift, you may wonder about the federal gift tax. Many gifts are not subject to the gift tax. Such gifts are often motivated by a desire to help family members as well as to reduce the size of an estate, said Brytni Gonzales, a WNDE tax manager.  Here are seven tax tips for gifts and the gift tax. Nontaxable Gifts. The general rule is that any...

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Tax Rules to Know about Year-End Donations to Charity

charitable donation

Donating to a charity not only allows you to support a cause in which you believe, but it can also offer a tax deduction.  Key to securing the tax benefits of a charitable donation, said Brytni Gonzales, a tax manager with WNDE, is making sure you donate to a qualified charity and that you maintain proper documentation for your records. Here are eight important facts you should know about...

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