Category Archives: Announcements

Save Taxes with Employer-Provided Transportation Fringe Benefits

October 17, 2016

Have you signed up for transportation fringe benefits or contributed to a salary reduction arrangement to cover the costs of your daily commute? If your employer provides these fringe benefits for parking, mass transit passes, van pooling and bicycle costs, taking advantage of them could save you significant tax dollars. Here are the details.

Federal Tax News – September

October 12, 2016

1. Coping with seniors’ medical deductions.
2. On-the-side aviation deduction grounded.
3. Taxpayer’s legal fees paid to a lawyer are deductible.
4. Husband denied innocent spouse relief.
5. Healthcare premiums rise for those covered by “Bronze” level Exchange plans.

No Sale on Section 199 Deduction for Retailer’s Marketing Materials

October 10, 2016

Can a retailer qualify for the Section 199 deduction for marketing materials created and printed in the United States that advertise products manufactured abroad? IRS Chief Counsel Advice determined that the deduction isn’t available for print materials that advertise only the company’s own foreign-made brands. Here are the details of the case.

IRA Charitable Donations: An Alternative to Taxable Required Distributions

October 3, 2016

Are you feeling charitable? High-net-worth individuals over age 70 1/2 can replace taxable required minimum distributions from their IRAs with qualified charitable distributions. In other words, instead of paying taxes on distributions, you can donate money to your favorite IRS-approved charity and avoid those taxes. Here’s more on how this strategy works and guidelines for whom it might benefit.

IRS and Security Summit Partners Warn of Fake Tax Bill Emails

September 23, 2016

WASHINGTON — The Internal Revenue Service and its Security Summit partners today issued an alert to taxpayers and tax professionals to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act.   The IRS has received numerous reports around the country of scammers sending a fraudulent […]

Federal Tax News – August

September 21, 2016

1. Tax Court rejects man’s mortgage interest deduction because he didn’t own home.
2. Stork’s visit allows parents tax-free gain in their condo sale.
3. Taxpayer found to have a profit motive in auto restoration business.
4. Crowdfunding generally isn’t tax-free, IRS states.
5. No effort, no relief in bankruptcy court case.

Jason Gagnon of Howe, Riley & Howe Elected Treasurer of Manchester Young Professionals Network

September 21, 2016

Manchester, NH – Jason Gagnon was recently named treasurer of the Manchester Young Professionals Network (MYPN) for a 3 year term, after previously serving on the organization’s New Hampshire Startup Challenge Committee. Gagnon is a certified public accountant at Howe, Riley & Howe, an accounting firm with offices in Manchester and Portsmouth, NH. “It’s an […]

Meet Howe, Riley & Howe’s New Managing Partners

March 18, 2016

Howe, Riley & Howe rang in 2016 by welcoming new leadership to the firm’s managing partner team. Lance Turgeon and Alison Perrella took over as managing partners effective January 1, 2016, replacing Peter J. Kiriakoutsos, who has managed the firm since 2006. Kiriakoutsos will continue as a principal in the firm working with clients providing […]

Peter Lachance Joins Greater Manchester Chamber of Commerce Board of Directors

March 11, 2016

Peter Lachance, a CPA and partner at the firm, was recently selected to join the Greater Manchester Chamber of Commerce Board of Directors for a three-year term. Lachance, a Manchester native, has been with the firm for more than seven years and became a partner in 2013. He has extensive tax and accounting experience across […]