Howe, Riley & Howe Named Best Accounting Firm in NH Business Review’s BOB Awards for Seventh Year in a Row

February 9, 2017

Culture, community and commitment to excellence keep Manchester and Portsmouth CPAs on top We are excited to announce that we are once again taking home the Best Accounting Firm in New Hampshire Business Review’s 2017 BOB Awards. The award marks the seventh year in a row that the firm has taken home the honor, which […]

Important Tax Figures for 2017

February 5, 2017

Every year, the dollar amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. Here are some important tax figures for 2017, compared with 2016, including the estate tax exemption, Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions, allowable business write-off amounts and more.

Shannon Hudson, CPA Joins Howe, Riley & Howe as Manager

February 3, 2017

Howe, Riley & Howe is pleased to welcome Shannon Hudson, CPA, to the firm as a Manager. Hudson specializes in individuals, trusts and estates, professional services and international taxation and will work in the Manchester office. “We are delighted that Shannon has joined us and think she will be a great fit for our growing […]

Seniors: Consider These Tax Breaks When Filing for 2016

February 1, 2017

There are some special tax breaks that can help “experienced” taxpayers reduce their federal income tax bills, including the bill for last year. Here are the details to help you decide if the tax-saving opportunities for itemized medical expenses and catch-up contributions to retirement accounts can work for you — and your senior friends and family members.

Federal Tax News – January

January 25, 2017

1. Due dates for filing Affordable Care Act information returns are deferred.
2. Accumulated earnings penalty tax applies.
3. Farm widow wins her case in U.S. Tax Court.
4. National Taxpayer Advocate’s message to the IRS: Keep it simple.
5. Court finds investments were nondeductible equity and not debt.

Proposed Regulations Target Transfers of FLP Interests

January 25, 2017

If you’ve procrastinated on estate planning moves using family-controlled entities such as family limited partnerships, take heed: Valuation discounts for lack of control and marketability on such transfers may be significantly reduced (or possibly eliminated) if recently proposed regulations are made final. Fortunately, any changes would be applied prospectively, so there may be time to take advantage of existing rules.