CHICAGO (November 4, 2014) – The annual Year-End Tax Planning Letter published by accounting and advisory firm Baker Tilly Virchow Krause, LLP (Baker Tilly) prepares businesses and individuals for some of 2014’s most pressing tax issues, including the employer mandate, finalized repair and maintenance regulations and state and local tax changes.
Additionally, the letter looks to Capitol Hill. It takes into consideration the possible outcomes of the midterm elections and the subsequent actions of the lame duck Congress and discusses the collective response of the IRS, the Treasury Department and the White House toward preventing corporate inversions.
“With so much indecision regarding the status of tax extenders and potential tax reform, everyone should pay careful attention in the coming weeks for possible tax law changes,” Baker Tilly Tax Services Managing Partner, Joe O’Neil, said. “We encourage taxpayers to reach out to their tax and financial advisors for the best way to navigate through this uncertain tax environment.”
Baker Tilly’s 2014 Year-End Tax Letter also provides important planning strategies to consider for individuals, estates and trusts as well as when implementing the healthcare law and adopting the research and development tax credit.
Baker Tilly’s 2014 Year-End Tax Letter is available for free download at http://www.bakertilly.com/insights/2014-year-end-tax-letter. For more information about Baker Tilly’s tax planning services, visit http://www.bakertilly.com/services/tax.
About Baker Tilly Virchow Krause, LLP (bakertilly.com)
Baker Tilly Virchow Krause, LLP (Baker Tilly) is a leading advisory, tax and assurance firm whose specialized professionals guide clients through an ever-changing business world, helping them win now and anticipate tomorrow. Headquartered in Chicago, Baker Tilly, and its affiliated entities, have operations in North America, South America, Europe, Asia and Australia. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 147 territories, with 33,600 professionals. The combined worldwide revenue of independent member firms is $3.4 billion. Visit bakertilly.com or join the conversation on LinkedIn, Facebook and Twitter.