The end of the calendar year usually coincides with law firms announcing partner promotions. When law firms are structured as partnerships, newly promoted partners can expect their tax situation to change for the 2017 filing year. For tax purposes, the partnerships report the firm income and the income “flows through” to the individual partners of the firm.
In 2015, Congress made significant revisions to the due dates for filing many important and common returns, including FinCEN Report 114, Report of Foreign Bank and Financial Accounts (known as the FBAR).
RubinBrown recently attended the National Association of Home Builders (NAHB) International Builder’s Show in Orlando, Florida. As in prior years, the show is combined with the Kitchen and Bath Industry, International Window Coverings and International Surface Event Shows bringing the overall attendance to approximately 80,000.
During the 2016 veto session the Missouri legislature acted to protect taxpayers by overriding Governor Nixon’s veto of a senate bill related to the taxability of instructional classes.