Do You Have Accumulated Deferred Foreign Income? Time to Pay Up!
Article Highlights: Foreign Corporations Deferred Dividends Previous Law Deferred Income Now Taxable Reduced Tax Rates Payment Plan Election 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 […]
Living Abroad? Here Is How Tax Reform May Affect You
Article Highlights: Foreign Earned Income Exclusion Housing Exclusion Foreign Informational Reporting Foreign Corporation Income Foreign Tax Credit 1040 Changes Moving Deduction 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 was passed in late […]
Tax-Free Grants for Restaurants
Article Highlights: Restaurant Revitalization Fund Eligible Entities Application Good-Faith Certification Tax Issues Covered Period Available Funding Priority in Awarding Grants Determination of Grant Amount Use of Funds Applying for a Grant The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This […]
Is Bunching Right for You?
Article Highlights: Standard Deductions Itemized Deductions Bunching Strategy Medical Expenses Taxes Charitable Contributions 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, could affect you and your family, […]
Video tip: 100% Business Meal Deductions
To support the restaurant industry who was hit hard during the pandemic, Congress is giving businesses a tax break as a way to increase revenue to restaurants. Watch the video to see how this can apply to your business.
Tax Deductions for Realtors
Auto Travel:Your auto expense is based on the number of qualified business miles you drive. Expenses for travel between business locations or daily transportation expenses between your residence and temporary work locations are deductible; include them as business miles. Expenses for your trips between home and work each day, or between home and one or […]
Tax Reform Adds New Perks to ABLE Accounts
Article Highlights: ABLE Account Tax-Deferred Accumulation Contribution Limits Tax Reform Changes Beneficiary Contributions Saver’s Credit Sec. 529 Plan Rollovers 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 was passed in late December 2017, […]
Small Business Guide
Keep Your Small Business Advantage! While your know-how is certain to make an important difference in your business’ success, you’re no doubt well aware that producing a winning combination for a smooth-running operation depends on many other factors as well. High on the list of considerations for your business should be creating the ability to […]
Flipping Homes – A Reviving Trend in Real Estate
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
Video: Quick Tips for Effective Tax Record-Keeping
Video: Quick Tips for Effective Tax Record-Keeping https://www.youtube.com/watch?v=XHOmBV4js_E