Over the years, the idea of only larger companies providing employee meals has drastically changed. Employers providing meals to employees has become somewhat common for many midsize to large companies. However, a recent tax law...
Many business owners use a calendar year as their company’s tax year. It is a simple method that aligns with most owners’ personal returns. However, for some businesses, choosing a fiscal tax year can make more sense. What’s a fiscal tax year? A fiscal tax year...
Estate planning is never done. Just like a piece of real estate, it needs periodic maintenance and care to make sure it’s in good shape when you need it most. Provisions in the newly passed tax plan mean it’s time to revisit a handful of key areas of your estate plan....
The Tax Cuts and Jobs Act of 2017 significantly changed the landscape for everyone including nonprofit organizations. To help these organizations navigate the key provisions affecting nonprofits, we’ve highlighted three key considerations below: Executive Compensation...
Cryptocurrency is hot right now. As it emerges as an asset class of its own, many people are still confused how to treat it for federal income tax purposes. In response, the IRS issued guidance back in 2014 that treats virtual currencies that are convertible to cash...
The Tax Cuts & Jobs Act significantly changes the landscape for individuals and businesses, both small and large. Many provisions included in the Act take effect January 1, 2018, and will affect virtually all U.S. taxpayers. To help you understand the...
American small business owners and entrepreneurs across the country received a financial present this holiday season when Congress passed the new tax reform package. The “Tax Cuts and Job Act of 2017” is the most significant and radical change in tax law since the...
The much anticipated tax bill is finalized and has significant changes to personal and business tax laws, both in terms of tax structure and rules. Below is a summary of the key provisions in their final form compared to current tax law. Income Tax Rates Overall, the...
Prepaid Real Property Taxes May Be Deductible in 2017 if ASSESSED and PAID in 2017 IRS Statements and Announcements - The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax...
As the year comes to an end and we begin reviewing the implications of the new tax reform bill, here are a few last suggestions for you and/or your business. Tax Reform Is Here - Four Moves to Make By the End of Year As always, please call one of our Tax Professionals...