Tax

EIGHT KEY TAX PLANNING OPPORTUNITIES FOR BUSINESSES IN 2019

More than a year after sweeping federal and state tax reform were enacted, businesses of all sizes are still wrapping their arms around the changes. Additional guidance and regulations have been issued nearly every month—indeed, change is the new normal. Strategic tax planning now is key to lowering businesses’ total tax liability. Read on for Read More…

AUDIT PROOF YOUR TAX RETURN

No one likes the stress involved when your tax return is under the audit spotlight. Here are some ideas to avoid some of the more common audit triggers. Report everything that has an informational tax return. If you are like most Americans, you will receive numerous 1099s, W-2s, and 1095s in the mail. The IRS Read More…

TOP 10 PROPERTY TAX MYTHS

Are you missing an opportunity to reduce your property tax liability? Nearly all local taxing jurisdictions, including municipalities, counties, and boards of education, generate tax revenue through the imposition of property tax, which is one of the most substantial sources of local government revenue. For many businesses, property tax is the largest state and local Read More…

FINAL REGULATIONS OF SECTION 199A

​​Final regulations regarding the determination of the Section 199A deduction have been issued. Summary On January 18, 2019, the Department of the Treasury (Treasury) and Internal Revenue Service (IRS) issued widely-anticipated final regulations concerning the deduction for qualified business income under Section 199A (the QBI Deduction). The final regulations were posted on the IRS website. Read More…

RETIREMENT SAVINGS TAX DEDUCTIONS

With the loss of several itemized deductions under the new Tax Cuts and Jobs Act (TCJA) for many individuals, taxpayers are wondering where they can still find tax deductions.  One great place is with retirement savings.  The TCJA did not change the rules for retirement savings tax deductions.  In fact, many retirement savings deductions continue Read More…

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