Sec. 179 expensing provides small businesses tax savings on 2017 returns — and more savings in the future
February 26, 2018
If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax…
Tax credit for hiring from certain “target groups” can provide substantial tax savings
February 21, 2018
Many businesses hired in 2017, and more are planning to hire in 2018. If you’re among them and your hires include members of a “target…
Use benchmarking to swim with the big fish
February 16, 2018
You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit deeper. Even if you’re a big fish in your…
Families with college students may save tax on their 2017 returns with one of these breaks
February 14, 2018
Whether you had a child in college (or graduate school) last year or were a student yourself, you may be eligible for some valuable tax…
Small business owners: A SEP may give you one last 2017 tax and retirement saving opportunity
February 12, 2018
Are you a high-income small-business owner who doesn’t currently have a tax-advantaged retirement plan set up for yourself? A Simplified…
TCJA temporarily lowers medical expense deduction threshold
February 7, 2018
With rising health care costs, claiming whatever tax breaks related to health care that you can is more important than ever. But there’s a…
Claiming bonus depreciation on your 2017 tax return may be particularly beneficial
February 5, 2018
With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year…
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State and local sales tax deduction remains, but subject to a new limit
February 2, 2018
Individual taxpayers who itemize their deductions can deduct either state and local income taxes or state and local sales taxes. The…
Business interruption insurance can help some companies
January 31, 2018
Natural disasters and other calamities can affect any company at any time. Depending on the type of business and its financial stability, a…
Light a beacon to your business with a mission statement
January 26, 2018
Every company, big or small, should have a mission statement. Why? When carefully conceived and well written, a mission statement can serve…
Can you deduct home office expenses?
January 24, 2018
Working from home has become commonplace. But just because you have a home office space doesn’t mean you can deduct expenses associated…
Tax TipsBusiness TaxesTax Deductions
Meals, entertainment and transportation may cost businesses more under the TCJA
January 22, 2018
Along with tax rate reductions and a new deduction for pass-through qualified business income, the new tax law brings the reduction or…
Big data strategies for every business
January 19, 2018
You’ve probably heard or read the term “big data” at least once in the past few years. Maybe your response was a sarcastic “big deal!”…
Your 2017 tax return may be your last chance to take the “manufacturers’ deduction”
January 17, 2018
While many provisions of the Tax Cuts and Jobs Act (TCJA) will save businesses tax, the new law also reduces or eliminates some tax breaks…
Not necessarily a luxury: Outsourcing
January 12, 2018
For many years, owners of small and midsize businesses looked at outsourcing much like some homeowners viewed hiring a cleaning person.…
Don’t be a victim of tax identity theft: File your 2017 return early
January 10, 2018
The IRS has just announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17…
New tax law gives pass-through businesses a valuable deduction
January 8, 2018
Although the drop of the corporate tax rate from a top rate of 35% to a flat rate of 21% may be one of the most talked about provisions of…
Making the right choice about your office space
January 6, 2018
For many companies, there comes a time when owners must decide whether to renew a lease, move on to a different one or buy new (or…
Most individual tax rates go down under the TCJA
January 3, 2018
The Tax Cuts and Jobs Act (TCJA) generally reduces individual tax rates for 2018 through 2025. It maintains seven individual income tax…
Even if your income is high, your family may be able to benefit from the 0% long-term capital gains rate
December 30, 2017
We’re entering the giving season, and if making financial gifts to your loved ones is part of your plans — or if you’d simply like to…
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Tax Cuts and Jobs Act: Key provisions affecting individuals
December 27, 2017
On December 20, Congress completed passage of the largest federal tax reform law in more than 30 years. Commonly called the “Tax Cuts and…
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Tax Cuts and Jobs Act: Key provisions affecting businesses
December 27, 2017
The recently passed tax reform bill, commonly referred to as the “Tax Cuts and Jobs Act” (TCJA), is the most expansive federal tax…
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Tax Cuts and Jobs Act: Key provisions affecting businesses
December 27, 2017
The recently passed tax reform bill, commonly referred to as the “Tax Cuts and Jobs Act” (TCJA), is the most expansive federal tax…
Tax TipsTax AdviceTax AdvisorTax PlanningTax Reform
Last Minute Tax Planning Under Recently Passed 2017 Tax Reform
December 21, 2017
As reported by Reuters: "The Republican-controlled U.S. House of Representatives gave final approval on Wednesday to the biggest overhaul…