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Don’t Toss Those Tax Records Yet!

Article Highlights: Reasons to Keep Records Statute of Limitations Maintaining Record of Asset Basis   Even though the 2017 tax due date has come and gone, and even though you have filed your 2017 tax return, you may still need to keep your 2017 tax records. Generally, tax records are retained for two reasons: (1) [...]

By |2018-04-24T18:12:04+00:00April 24th, 2018|Categories: Uncategorized|0 Comments

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 you and [...]

By |2018-02-22T16:04:27+00:00March 7th, 2018|Categories: Uncategorized|0 Comments

Medical Deductions & The New Tax Law

Article Highlights:   Medical Deductions Retained by the Tax Reform Law Adjusted Gross Income Floor Dropped to 7.5% The Standard Deduction Bunching Medical Deductions Unusual Medical Deductions Medical Dependents Divorced Parents Note: The is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred [...]

By |2018-02-22T16:02:32+00:00March 7th, 2018|Categories: Uncategorized|0 Comments

Tax Reform Puts a Cap on Deducting Business Losses

Article Highlights:   Excess Business Loss Computing the Loss Limits Net Operating Losses (NOL) NOL Carryovers Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December of 2017, could [...]

By |2018-02-22T16:00:04+00:00March 5th, 2018|Categories: Uncategorized|0 Comments

Business Owners Beware: New Tax Law Severely Limits Entertainment Deductions

Article Highlights: Business Entertainment Expenses Business Meals Directly Related To Test Associated With Test Employee Meals Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December 2017, could affect [...]

By |2018-02-22T15:58:21+00:00March 2nd, 2018|Categories: Uncategorized|0 Comments

Surprise! Extender Bill Passed: Do You Benefit?

Article Highlights: Mortgage Insurance Premiums Above-the-Line Education Expenses Exclusion of Home Cancellation of Debt Income Credit for Nonbusiness Energy Property Credit for New Qualified Fuel Cell Motor Vehicles Credit for Alternative Fuel Vehicle Refueling Property Credit for 2-Wheeled Plug-In Electric Vehicles Credit for Energy-Efficient New Homes Race Horses as 3-Year Property Energy Efficient Commercial Buildings [...]

By |2018-02-22T15:56:52+00:00February 28th, 2018|Categories: Uncategorized|0 Comments

If You Owe the IRS a Lot of Money, You May Not Want to Plan Any Out-of-the-Country Trips

Article Highlights:   Seriously Delinquent Tax Debt Exceptions Passport Denial or Revocation As promised several months back, the IRS has begun to crack down on seriously delinquent taxpayers. A law passed on Dec. 4, 2015, requires the IRS to notify the U.S. State Department when someone has “seriously delinquent tax debt,” after which the State [...]

By |2018-02-21T00:07:05+00:00February 26th, 2018|Categories: Uncategorized|0 Comments

9 Best Ways to Start a Business Budget to Spur and Guide Growth

Building a business is a process that requires careful attention to many individual points, all with the goal of increasing customers, improving products, and building profit. That's why it might be a good idea to check out something like this https://www.whitehat-seo.co.uk/, as this is a marketing agency that can help your business grow. There are [...]

By |2018-02-21T00:02:13+00:00February 22nd, 2018|Categories: Uncategorized|0 Comments

Have Business Income? If So, You Score Big With The New Tax Reform

Article Highlights: Sec 199A Deduction Qualified Business Income Threshold Specified Service Businesses Limitations Wage Limit Aggregating Amounts Note: The is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December of 2017, [...]

By |2018-02-21T00:00:09+00:00February 21st, 2018|Categories: Uncategorized|0 Comments

Tax Reform Cracks Down on IRA Recharacterizations

Article Highlights:   Tax Trap Traditional IRA Roth IRA Traditional to Roth Conversions Undoing a Conversion 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 [...]

By |2018-02-15T20:33:57+00:00February 15th, 2018|Categories: Uncategorized|0 Comments