John A. Groman, Jr. Accounting

Income Tax Preparation

Federal and All 50 States

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Newsletters

November 2013 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for…

FAQ: What is the kiddie tax?

A child with earned income above a certain level is generally required to file a separate tax return as a single taxpayer. However, a child with a certain amount of…

How Do I? Claim enhanced Code Sec 179 expensing for 2013

Code Sec. 179 allows taxpayers to expense the cost of qualified property instead of capitalizing the cost and recovering it over a period of years. The provision is designed to…

Accelerating or deferring income/deductions as part of a year-end tax strategy

The arrival of year end presents special opportunities for most taxpayers to take steps in lowering their tax liability. The tax law imposes tax liability based upon a "tax year."…

Affordable Care Act developments impact SHOP, tax credits, Marketplaces, and more

Despite the 16-day government shutdown in October, a number of important developments took place impacting the Patient Protection and Affordable Care Act, especially for individuals and businesses. The Small Business…

IRS delays start of 2014 filing season; Administration clarifies individual mandate penalty

Shortly after resuming operations post-government shutdown, the IRS told taxpayers that the start of the 2014 filing season will be delayed by one to two weeks. The delay will largely…