Erin Spiwak, CPA and Partner, Available to Discuss Important Tax Provisions for 2015; James Moore Offers Leadership Training CourseJanuary 23rd, 2016 by gainesvillechamber
Erin Spiwak, CPA and Partner, Available to Discuss Important Tax Provisions for 2015
James Moore, Certified Public Accountants and Consultants (James Moore) is pleased to announce that Erin Spiwak, CPA, Tax Leader and Partner, is available to discuss important tax provisions for 2015. Your readers/viewers/listeners don’t want to be surprised when it’s time for them to file their 2015 returns. Erin Spiwak can help you provide the information they need by explaining the latest tax changes.
The three top issues for taxpayers to be aware of for 2015 tax returns are:
- The Protecting Americans from Tax Hikes Act of 2015 (PATH Act), also known as the Tax Extenders Bill, includes approximately $680 billion in revived tax breaks over the next 10 years. The bill includes deductions for state and local sales taxes, the exemption for cancellation of debt on a principal residence, the deduction for mortgage insurance premiums and teachers’ deductions for classroom expenses, among many others.
- Affordable Care Act Requirements for reporting health insurance coverage – or lack of it – on their income tax returns.
- Information reporting by employers’ on proof of coverage for their employees takes effect this year, making it easier for taxpayers to determine whether they had health insurance coverage during 2015 that met the law’s requirements.
- The fee or penalty for NOT having health insurance increased in 2015, so those who are uninsured will now pay a fine of the higher of 2% of income or $325 per uninsured person ($162.5 per child under 18). The fee goes even higher in 2016 to 2.5% of income or $695 per person ($347.5 per child under 18), so taxpayers who opted not to pay premiums in 2015 may need to reevaluate that choice in 2016. For future years, the fee will increase with inflation. Open enrollment for 2016 starts November 1 and runs through January 31, 2016.
- Taxpayer identity theft will continue to occur – don’t make it easy for thieves.
- Protect your information – shred mail, don’t be fooled by “phishing” scams, check your credit report regularly at annualcreditreport.com and report any breaches immediately to all three credit reporting agencies; visit identitytheft.gov to know in advance what steps to take if your personal information is breached or if you are a victim of identity theft.
- Business owners need to secure their networks, train their staff about the importance of protecting customers’ data and restrict access to only those employees in need of it, and audit regularly for breaches
Taxpayers should also remember these deductions when preparing their 2015 tax returns:
- Deductions taxpayers may be able to claim even if they don’t itemize:
- Contributions to retirement plans and health savings accounts
- Alimony payments
- Capital losses
- Interest paid on student loans
- Qualified tuition and expenses
- Examples of deductions taxpayers may be able to take if they itemize:
- Mortgage interest
- Charitable contributions
- Job search expenses
- State and local income and personal property taxes
- Medical expenses
- Casualty and theft losses
Erin Spiwak, CPA is a partner with James Moore, CPAs and has more than 15 years’ experience in the accounting industry serving the needs of businesses and individuals throughout North and Central Florida. She oversees the firm’s Tax Practice where she analyzes and plans for the impact of new tax developments. She also leads the firm’s wealth management practice, which addresses investment strategies, retirement planning and insurance needs.
Leadership Training Course Offered by James Moore & Velocity Advisory Group
James Moore, Certified Public Accountants and Consultants (James Moore) is pleased to announce the launch of their new one-year leadership training program, Lead North Central Florida (LeadNCF), presented by James Moore, CPAs and the Velocity Advisory Group.
LeadNCF is designed to provide new executives, or those holding upper management positions, with the leadership, financial, strategic and risk management skills needed to manage or run a company. Katie Davis, CPA with James Moore, CPAs and founder of LeadNCF recognized the need for a local leadership training program that exposes future leaders to the numerous aspects of running a business.
“Many future or new executives possess significant knowledge of their trade or industry, but likely have not been exposed to all aspects involved in running a business”, says Katie Davis. Unlike other local leadership programs that focus on the community, LeadNCF teaches valuable business skills that participants can apply directly to their businesses to make significant improvements from within.
The program is limited to 20 participants and consists of bi-monthly training modules followed by ongoing support and guidance to help participants learn valuable skills and to assist them in putting into practice what they’ve learned. Six training modules will cover the following topics: leadership, process excellence, finance, marketing, business risk, and strategy.
“LeadNCF looks closely at leadership in the 21st century and what it takes to be a great leader”, says Katie. “The rapid expansion of technology, research, and communication creates opportunities for business that didn’t exist 50 years ago. But opportunity increases competition and expectations, forcing leaders to master new challenges, take more risk and make decisions under extreme uncertainty.”
LeadNCF equips participants with the tools necessary to manage or run a business in the ever-changing and demanding business climate that exists today. Program facilitators include Katie Davis, with James Moore, CPAs, and Dave Fechtman and Ben Bowman, with Velocity Advisory Group. “By jointly facilitating the training program with Velocity Advisory Group, we provide participants with well-rounded expertise in all aspects of business, from finance and risk management to strategic planning and marketing,” says Katie.
The first training session will commence on January 26, 2016. The inaugural class consists of the following local business professionals:
Erik Anderson, McLeod General Trades
Adam Bolton, Robinshore Incorporated
Deborah Bowie, United Way of North Central Florida
Bryce Burger, Gainesville Landscape Contractors, Inc.
Joleen Cacciatore, Gainesville Sports Commission
Vince Cambrea, Florida School of Massage
Doug Dabney, Watson Construction
Susan Davenport, Gainesville Area Chamber of Commerce
Julie Jackson, The Cardiac and Vascular Institute
Walter “TJ” Jarvis, Causseaux, Hewett, & Walpole, Inc.
Brian Leslie, Charles Perry Partners, Inc.
Ryan McIntosh, TEM Systems
Curtis McMillen, Infinite Energy, Inc.
Azfar Mian, University of Florida Department of Housing & Residence Education
Stephen Pennypacker, Partnership for Strong Families, Inc.
Scott Pfaff, Busby Cabinets, Inc.
Julie Rhee, UF Research Foundation
Virginia Roberts, Infinite Energy, Inc.
Melissa Stuckey, University Athletic Association
Matthew Villella, LSeven Solutions
Joe Walker, Walker Architects
Alan West, University of Florida
Brad Womble, Sleep Solutions of North Florida
For more information on LeadNCF, contact Katie Davis, CPA with James Moore CPAs at 352-378-1331, or by email: Katie.firstname.lastname@example.org. You can learn more about the program by visiting: www.jmco.com/leadncf/