Archive

29Jan2018

Will Your 2018 Withholding Be Right?

    Article Highlights:   Tax Cuts & Jobs Act Wage Withholding Tables W-4 Be Cautious with Adjusted Withholding Note: The is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs Act (referred to as the “Act” in the article), passed late in December
  • 29 Jan, 2018
  • Jacqueline Cran
  • 0 Comments
Read more
25Jan2018

New Tax Law Cracks Down on Home Mortgage Interest

    Article Highlights: Acquisition Debt Interest Equity Debt Interest Consumer Interest New Tax Law Changes Note: The is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs Act (referred to as the “Act” in the article), passed late in December 2017, might affect
  • 25 Jan, 2018
  • Jacqueline Cran
  • 0 Comments
Read more
15Jan2018

1099 Filing Date Just Around the Corner

      Article Highlights: Independent Contractors 1099 Filing Requirement Due Dates Penalties Form W-9 and 1099 Worksheet If you operate a business and engage the services of an individual (independent contractor) other than one who meets the definition of an employee, and you pay him or her $600 or more for the calendar year,
  • 15 Jan, 2018
  • Jacqueline Cran
  • 0 Comments
Read more
11Jan2018

2018 Standard Mileage Rates

    Article Highlights: Standard Mileage Rates for 2018 Business, Charitable and Medical Rates Important Considerations for 2018 Switching Between the Actual Expense and Standard Mileage Rate Methods Employer Reimbursements Employee Deductions Suspended Special Allowances for SUVs As it does every year, the Internal Revenue Service recently announced the inflation- adjusted 2018 optional standard mileage rates
  • 11 Jan, 2018
  • Jacqueline Cran
  • 0 Comments
Read more
04Jan2018

Tax Cuts and Job Act Summary

    The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here is a look at some of the more important elements of the new law.  This is not a comprehensive review, but rather a summary of those items that we feel are the most relevant to our individual and
  • 4 Jan, 2018
  • Jacqueline Cran
  • 0 Comments
Read more
29Nov2017

When Business Meals and Entertainment Are Deductible

  Article Highlights: Ordinary and Necessary Directly-Related Test Associated-With Test Lavish Substantiation Requirements An often asked question is: are meals and entertainment deductible in the course of one’s business, and if so, under what circumstances? This type of expense requires you to comply with some pretty complicated qualifications, and if you can jump through the
  • 29 Nov, 2017
  • Jacqueline Cran
  • 0 Comments
Read more
22Nov2017

House Releases Tax Cuts & Jobs Act – See How It Might Affect Your Business

  Article Highlights Maximum Tax Rate on Business Income of Individuals Business Expensing Sec 179 Business Interest Expense Limitation Business Entertainment Sec 1031 Exchanges Self-Created Property Domestic Production Deduction Business Credits Corporate Tax Rate Personal Service Corporation Tax Rate Net Operating Loss This is part 2 of a 2-part series on the proposed Tax Cuts
  • 22 Nov, 2017
  • Jacqueline Cran
  • 0 Comments
Read more
09Nov2017

Tax Cuts and Jobs Act – See How It Would Affect You

    Article Highlights Deductions Exemptions Tax Rates Family and Child Tax Credits Education Benefits Plug-In Electric-Vehicle Credit Alimony Home-Sale Gain Exclusion Moving Expenses Estate Taxes   This is Part 1 of 2 in a series on the proposed Tax Cuts and Jobs Act. This part covers the provisions that apply to individual taxpayers. Part
  • 9 Nov, 2017
  • Jacqueline Cran
  • 0 Comments
Read more
30Oct2017

Convert Your Traditional IRA to a Roth IRA Too Soon?

  Article Highlight:  Converting Traditional IRA Funds to a Roth IRA Recharacterizations – Undoing the Conversion Benefits of Recharacterizations Recharacterization Timing When you convert a traditional IRA to a Roth IRA, you have to pay the tax on the conversion.   However, individuals frequently do this so they can take advantage of future tax-free accumulations. Distributions
  • 30 Oct, 2017
  • Jacqueline Cran
  • 0 Comments
Read more
26Oct2017

Ignoring Those IRS Notices Only Makes It Worse

Article Highlights:  IRS Informational Forms Computer Matching IRS Correspondence Procrastination Need for Professional Review Remember those 1099s, W-2s, K-1s and other informational forms you receive each year reporting your interest, dividends, sales, wages, retirement income, IRA withdrawals, health insurance forms and other items having to do with your tax return? Well, the IRS also gets
  • 26 Oct, 2017
  • Jacqueline Cran
  • 0 Comments
Read more
Older Posts >>