New mileage rates announced by the IRS Mileage rates for travel are now set for 2020. The standard business mileage rate decreases by 0.5 cents to 57.5 cents per mile. The medical and moving mileage rates also decreases by 3 cents to 17 cents per mile. Charitable mileage rates remain unchanged at 14 cents per Read More…
On December 20, 2019, President Trump signed into law, two appropriations bills that extended government funding while also dealing with several of the tax extender provisions and repealing some Obamacare taxes. The most broadly applicable tax law changes in the bills are in connection to the tax extenders provisions. The bills reinstate many of the Read More…
Multiple tax rates hold the key In times of market volatility or when a financial need arises, it is only natural to consider selling some investments. Understanding the tax consequences is key to making an informed and planned decision. Here is what you need to know BEFORE you sell: Investment Tax Rates Investment Tax Classification Read More…
Given the historically low interest rate environment in which we find ourselves, most business owners in capital intensive industries will be impelled to explore their options when it comes to obtaining new equipment. Whether it’s best to use lease financing or purchase equipment outright depends on multiple factors including (but not limited to) the type Read More…
If you’re interested in minimizing your tax obligations and maximizing your savings, consider these helpful tips, and contact us to review your tax strategy. Losses that Offer Tax Savings Capital loss, casualty loss, net operating loss — a loss by any name causes a financial setback. It’s something no one likes to think about, much Read More…
If you feel that business is harder today, you’re not alone. In addition to rising regulatory obligations and relentless technological change, the ability to attract and retain top talent has never been more difficult. To compete and thrive in this environment, businesses need to optimize their finance and accounting practices, and that means tackling challenges Read More…
If you’re a sole proprietor, you have probably wondered at some point whether you’d be better off if you incorporated your business. Here are some facts for you to consider. The single biggest benefit of incorporating a business is limiting an owner’s liability. In theory, a stockholder in a corporation risks only his or her Read More…
Now is the time for tax fraud and theft. As the IRS continues to neutralize these threats, scammers are developing improved tactics to steal your identity and tax refund. Here is a recap of what the IRS is seeing this year: More sophisticated email scams. A recent IRS alert warns taxpayers to be on the lookout Read More…
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…
2016 Year-end Strategies for Businesses & Individuals: Straddling Two Years of Significant Changes. Click to read here.
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