While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to…Read More
Blog
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Year-end Accounting Recap
The Financial Accounting Standards Board (FASB) hasn’t issued any major new accounting rules in 2019. But there have been some important developments to be aware of when…Read More
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Low Tax Rates Provide Opportunity to “Cash Out” with Dividends
Under current tax law, the federal income tax rate for C corporations is a flat 21%. Under prior law, C corporations faced a graduated federal income tax-rate…Read More
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Tax Rules that Apply to Home-to-Rental Conversions
Residential real estate values have fully recovered in many areas, and rental rates are strong. To take advantage of this favorable situation, consider buying a new residence…Read More
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QBI Deduction Safe Harbor Rule for Rental Real Estate
The Tax Cuts and Jobs Act (TCJA) introduced a new deduction for individuals, estates and trusts that own interests in so-called “pass-through” business entities for 2018 through…Read More
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Treatment of Payments to Charitable Entities in Return for Consideration
The IRS has proposed clarifications on how to treat certain contributions made to a charity in return for state and local tax credits. A provision of the Tax…Read More
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Small Businesses: It May Not Be Not Too Late to Cut Your 2019 Taxes
Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few strategies,…Read More
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2020 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2020. Keep in mind that this list isn’t all-inclusive,…Read More
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Tied Down to Your 401(k) Plan’s Cost? Discover the Alternatives
Before 401(k) plans burst onto the employee benefit scene in the 1980s and traditional pension plans had not yet gone nearly extinct, there were profit-sharing plans. The…Read More
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FAQs About Prepaid Expenses
It’s important to review the financial reporting requirements for prepaid assets and evaluate whether the benefits of prepaying outweigh the costs.Read More