Yearly Archives: 2017

/2017

Sold Your Home This Year? Thinking of Selling? Read This!

Article Highlights:   Home Sale Exclusion 2 out of 5 Rule Business Use of the Home Gain or Loss from a Sale Previous Use as a Rental Records If you sold your home this year, or if you are thinking about selling it, you should be aware of the many tax-related issues that could apply [...]

By |2017-12-01T19:04:26+00:00December 11th, 2017|Categories: Uncategorized|Comments Off on Sold Your Home This Year? Thinking of Selling? Read This!

Senate Passes Tax Bill; What’s Next?

Article Highlights: Tax Cuts and Jobs Act Heads To Reconciliation Tax Rates Medical Deductions Deduction For Taxes Home Mortgage Interest Tax on Business Pass-Through Income Alternative Minimum Tax (AMT) Business Expensing Repeal of ACA Health Insurance Mandate The Senate GOP finally brought their version of the Tax Cuts and Jobs Act out of committee and [...]

By |2017-12-08T18:09:42+00:00December 8th, 2017|Categories: Uncategorized|Comments Off on Senate Passes Tax Bill; What’s Next?

The Ultimate Cheat Sheet on Growing Your Business

Every business must have a constant eye on growth. If your company is not growing, it is losing key opportunities and longevity. Yet, growth does not always come from increased sales. In many cases, it's important to take an inside look at how you are operating, what costs you have, and how you can better [...]

By |2017-12-01T18:56:33+00:00December 7th, 2017|Categories: Uncategorized|Comments Off on The Ultimate Cheat Sheet on Growing Your Business

Important Things to Know About IRAs

Article Highlights: IRA Contribution Limits Compensation Active Participation Traditional IRA AGI Phaseouts Nondeductible Contributions Spousal IRA Roth IRA Back Door Roth IRA Penalties Rollovers Conversions Required Minimum Distributions   Blog: The individual retirement account (IRA) is one of the favored ways to save money for retirement. There are two types of IRAs: the traditional IRA [...]

By |2017-12-01T18:53:30+00:00December 4th, 2017|Categories: Uncategorized|Comments Off on Important Things to Know About IRAs

Early Year-End Tax Planning To Take Advantage Of Possible Tax Reform

Article Highlights: Taking Advantage of Tax Reform Itemized Deductions Taking Tax Advantage of Loser Stocks Maximize Education Credits Business Expensing So, why do we think tax planning is appropriate this year? Actually, with the prospect of major tax reform on the horizon, some strategies can be employed before the end of the year that can [...]

By |2017-12-01T19:00:30+00:00December 1st, 2017|Categories: Uncategorized|Comments Off on Early Year-End Tax Planning To Take Advantage Of Possible Tax Reform

Unique Charitable Giving Options

Article Highlights: Charitable Deduction AGI Limitations Special Hurricane Relief Contribution Provisions Donations of Unused Employer Time Off Contributions of Appreciated Assets IRA to Charity Contributions Cash Contributions Non-cash Contributions Avoiding Fraudulent Charities The end of the year and holiday season is the time of the year when everyone is feeling charitable, and a time when [...]

By |2017-11-17T18:56:27+00:00November 17th, 2017|Categories: Uncategorized|Comments Off on Unique Charitable Giving Options

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 & [...]

By |2017-11-13T22:29:41+00:00November 13th, 2017|Categories: Uncategorized|Comments Off on House Releases Tax Cuts & Jobs Act – See How It Might Affect Your Business

Tax Cuts and Jobs Act – See How It Would Affect You Part 1

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. [...]

By |2017-11-10T17:22:54+00:00November 10th, 2017|Categories: Uncategorized|Comments Off on Tax Cuts and Jobs Act – See How It Would Affect You Part 1

A Beginner’s Guide to Bookkeeping

If you're a new business owner, you might not remember the last night you slept more than four or five hours. Your days may be filled with developing marketing strategies, screening potential employees and trying to figure out how to set up a bookkeeping system. If working with numbers isn't your favorite pastime, the latter [...]

By |2017-11-08T00:09:49+00:00November 8th, 2017|Categories: Uncategorized|Comments Off on A Beginner’s Guide to Bookkeeping

Not All Interest Is Deductible For Taxes

Article Highlights: Interest Categories Category Deductibility Interest Tracing Rules A frequent question that arises when borrowing money is whether or not the interest will be tax deductible. That can be a complicated question, and unfortunately not all interest an individual pays is deductible. The rules for deducting interest vary, depending on whether the loan proceeds [...]

By |2017-10-27T16:42:22+00:00November 2nd, 2017|Categories: Uncategorized|Comments Off on Not All Interest Is Deductible For Taxes