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Category Archive for: ‘News’

  • Tax Form Pic

    Important Tax Deadlines

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    Important Tax Deadlines 2018 is coming to a close and the last individual 4th quarter estimated tax payments are due January 15, 2019. For the upcoming tax season (April 15, 2019) we will be sending out our engagement letters in December via email.  Please be …

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    New Partnership Audit Rules

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    UMMC would like to inform you of a new rule that will affect your partnership tax returns beginning with the 2019 filing season. The Bipartisan Budget Act of 2015 (“Act”) made significant changes to the Internal Revenue Service’s (“IRS”) partnership audit rules effective for partnership …

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  • Tax Form 2

    Year-End Tax Planning

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    Year-end Tax Planning; Things You Should Know This has been a tumultuous year for taxes, with the tax reform that passed in late 2017 generally becoming effective in 2018, often with significant changes for both individuals and businesses. This is the first major tax reform …

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  • Tax Form 2

    Retirement Savings

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    Ways to Maximize Your Retirement Savings The Social Security Administration (SSA) recently announced the inflation-adjusted increase in benefits for 2019. SSA’s announcement states that Social Security beneficiaries should expect a cost-of-living increase of 2.8%. However, the same announcement says that for those who are retired …

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  • Tax Form 2

    Opportunity Zone Investments

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    Deferral of Taxable Gains when Investing in Qualified Opportunity Funds Those who have a large capital gain from the sale of a stock, asset, or business and who would like to defer that gain with the possibility of excluding some of it from taxation should …

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    UMMC’s Recap of the Recently Passed Tax Cuts and Jobs Act for Individuals

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    In December 2017, President Trump signed into law the Tax Cuts and Jobs Act (“Tax Act” or “Act”), which introduces the most significant changes to the U.S. tax system since 1986. With a few exceptions, the provisions are generally effective starting in 2018. However, many …

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  • Tax Form Pic

    UMMC’s Recap of the Recently Passed Tax Cuts and Jobs Act for Business

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    In December 2017, President Trump signed into law the Tax Cuts and Jobs Act (“Tax Act” or “Act”), which introduces the most significant changes to the U.S. tax system since 1986. With a few exceptions, the provisions are generally effective starting in 2018. Although the …

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  • Tax Form Pic

    Why Less Withholding Now May Result In More Tax Next Year

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    With all of the tax reform changes and the corresponding reductions in most taxpayers’ income tax withholding, there are serious concerns that the reduction in withholding, although providing more take-home pay now, could end up resulting in unexpected taxes due at tax time next year. …

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Leesburg Office    5 Loudoun St. SW Ste. B Leesburg, VA 20175           Phone 703.771.1818  Fax 703.777.5708 

Warrenton Office  10 Rock Pointe Lane Ste. 3 Warrenton, VA 20186        Phone 540.347.5681  Fax 540.347.3353