BA Harris LLP

FMLA Tax Credit

Published on Saturday, January 26, 2019

There is a new tax credit available to employers who provide paid family and medical leave to their employees under the Family Medical Leave Act. If you offer paid leave to your employees be sure to contact our office to make sure you are taking full advantage of this tax credit.

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Idaho Tax Withholding

Published on Saturday, January 12, 2019

The Idaho State Tax Commission has published a new Idaho specific Form W4 to assist taxpayers with updating their paycheck withholding. We recommend you complete this Form W4 and submit it to your employer’s payroll department.

A copy of the Form W4 and instructions can be found here: https://tax.idaho.gov/i-2033.cfm

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4th Quarter Estimated Tax Payments

Published on Monday, January 07, 2019

The federal government may be closed, but they still want your quarterly tax payments. Reminder, 4th quarter estimated tax payments are due January 15. If you have any questions, don't hesitate to contact our office. Read More...

Does your company have Economic Nexus?

Published on Tuesday, December 18, 2018

Does your company have Economic Nexus? Read More...

Opportunity Zone Investments

Published on Tuesday, December 11, 2018

For decades, one of the most popular tools to defer taxes on capital gains has been the 1031 Exchange, offering almost unrivaled potential in the tax planning arena. However, the Tax Cuts and Jobs Act of 2017 has introduced The Opportunity Zones Program (OZP) which may benefit certain patient investors by providing an even more lucrative option than a 1031 exchange. The initiative offers taxpayers with large investment gains not only tax deferral, but tax savings of up to 15% of the original gain and even 100 percent of the gain from the subsequent disposition of your investment in the Qualified Opportunity Zone (QOZ). Unlike a 1031 Exchange, the OZP is not limited to real estate gains or exchanges, nor must the new investment be “Like-Kind” Additionally, the OZP offers the ability to keep some cash from the originating capital gain transaction (up to your basis in that capital gain asset) and you have 180 days to reinvest some or all of the remaining gain (without a qualified intermediary). Read More...