With the 2013 individual income tax return filing season rapidly approaching, we feel it is a good time to remind you of the impact of prior year legislation, which is now effective in 2013, will have on your 2013 federal income tax liability (Patient Protection and Affordable Care Act of 2010 and the American Taxpayer Relief Act of 2012).
FF&F News & Events
Taxpayers generally prefer to accelerate deductions to reduce their current year income and taxes. In some situations, the tax code’s accounting rules allow an accrual-basis employer to deduct a year-end employee bonus in the current year, even though the bonus will not be paid until the following year.
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 individuals, businesses and other taxpayers for the month of December 2013.
On November 26th, FF&F’s team came together for a different kind of busy season: the season of giving! Members of our staff, managers and partners took the opportunity to give back to the local community by repacking donated goods at the Food Bank for New York City‘s distribution warehouse at Hunts Point in the Bronx.