At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound appealing. But tread carefully, or you might not be eligible for the deduction you’re expecting. General rules. Business
Can you deduct business travel when it’s combined with a vacation? Read More »
If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But a large refund isn’t all positive. It also means you were essentially giving the government an interest-free loan. That’s why a large refund for the previous tax year would usually indicate that you should
Do you need to adjust your withholding? Read More »
With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be hoping to not think about taxes for the next several months. But for maximum tax savings, now is the time to start tax planning for
Get started on 2018 tax planning now! Read More »
You may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if your office is strewn with reams of paper consisting of years’ worth of tax returns, receipts, canceled checks and other financial records (or your computer desktop is filled with a multitude of digital tax-related
Tax document retention guidelines for small businesses Read More »
The Tax Cuts and Jobs Act (TCJA) includes many changes that affect tax breaks for employee benefits. Among the changes are four negatives and one positive that will impact not only employees but also the businesses providing the benefits. Four breaks curtailed beginning with the 2018 tax year, the TCJA reduces or eliminates tax breaks
TCJA changes to employee benefits tax breaks: 4 negatives and a positive Read More »
When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. If when filing your 2017 income tax return you found that your business had an NOL, there is an upside: tax benefits. But beware — the Tax Cuts and Jobs Act (TCJA) makes some significant changes to the tax treatment
A net operating loss on your 2017 tax return isn’t all bad news Read More »
Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee benefit obligations. To find out how the IRS will classify a particular worker, businesses can file optional IRS Form
Should you file Form SS-8 to ask the IRS to determine a worker’s status? Read More »
Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. April
2018 Q2 tax calendar: Key deadlines for businesses and other employers Read More »
Whether you had a child in college (or graduate school) last year or were a student yourself, you may be eligible for some valuable tax breaks on your 2017 return. One such break that had expired December 31, 2016, was just extended under the recently passed Bipartisan Budget Act of 2018: the tuition and fees deduction.
Guest blogger Jacob Davis ends his Life, Death, and Taxes series with thoughts on Investing in Real Estate. Please contact our office with tax questions related to real estate investing. Thank you, Jacob, for providing this series. This article is not about how to invest in real estate or the ways to go about it–it’s
Part 3 of Life, Death, and Taxes – Investing in Real Estate Read More »