NEWS LETTER

Stay in the loop on tax laws, tips, and ways to better run your accounting department.

Nov. 2018 Year-End Tax Planning for Individuals

Once again, tax planning for the year ahead presents several challenges, this year, primarily due to tax laws changes brought about the passage of the Tax Cuts and Jobs Act of 2018. These changes include the nearly doubling of the standard deduction, elimination of personal exemptions, and numerous itemized deductions reduced or eliminated. Let's take a closer look.READ MORE...


 

Oct. 2018 Avoiding an Unexpected Tax Bill

Tax withholding can be complicated, and with the passage of the Tax Cuts and Jobs Act (TCJA) legislation, it's even more so since a number of tax provisions have changed. As such, it's important to make sure the right amount of tax is withheld for your particular tax situation.

Many taxpayers have already adjusted their withholding, but for those with more complicated tax situations who have been putting it off, it's not too late. You should be aware, however, that the longer you wait, the fewer pay periods there are to withhold the necessary federal tax. In other words, more tax will have to be withheld from each remaining paycheck.

Let's take a look at which taxpayers would benefit from a "paycheck checkup" right now to avoid an unexpected tax bill next year. READ MORE...


 

Sept. 2018 Small Employer Health Reimbursement Arrangements

Small employer HRAs or QSEHRAs (Qualified Small Employer Health Reimbursement Arrangements) allow small businesses without group health plans to set aside money, tax-free, for employees to use toward medical expenses--including the cost of buying health insurance. Here's what you need to know about QSEHRAs. READ MORE...


 

Aug. 2018: Safeguarding Financial Records

Natural disasters such as hurricanes are more common in summer, but tornadoes, floods, and fires can strike at any time. As such, it's always a good idea to plan for what to do in case of a disaster. Here are some basic steps you can take right now to prepare: READ MORE...


 

July 2018: Five Tax Deductions That Disappeared In 2018

Under tax reform, taxpayers who itemize should be aware that deductions they may have previously counted on to reduce their taxable income have disappeared in 2018. READ MORE...