News & Events

Posted By  |  January 31, 2019

What to consider for 2018 taxes Typically, commercial buildings and improvements are depreciated over 39 years, which means you can deduct a portion of the cost every year over the depreciation period. (This excludes land- you cannot devalue it.) However, specific real estate investments have different tax breaks which allow you to implement deductions more […]

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According to the IRS Data Book, the IRS audited nearly 1.1 million tax returns in 2017. That is approximately 0.5 percent of all returns. Although it may not seem like a considerable number, don’t raise your glass in victory too soon. The IRS has a few folks on their radar, and sometimes it is not […]

Posted By  |  January 11, 2019

While most provisions of the Tax Cuts and Jobs Act (TCJA) have gone into effect last year and either apply through 2025 or are permanent, there are two significant tax changes under the act for 2019. Here’s a quick overview. 1. Deductions on medical expenses It is no secret that health care costs increase every year, […]

Posted By  |  January 4, 2019

As the 2018 tax season quickly approaches us – now is a great time to start gathering documentation and making an appointment to meet with your CPA. Once the tax year has ended, it is typically too late to apply any strategy to reduce your  2018 business tax. Therefore, as a business owner, shifting your […]

Posted By  |  December 21, 2018

By carefully selecting which investments to sell- you may be able to save some money on your 2018 tax bill. Creating equilibrium between gains and losses If you’ve sold investments at a gain this year, consider selling some losing investments to absorb the gains. One tax strategy to balance this gain is by also selling investments […]

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While the holidays are a great opportunity to reflect on the year, it is also the best time to review your pre-tax season checklist.  We’ve put together a quick list to get you thinking of tax strategies that may apply to you and can cut your tax liability. Business Losses The Tax Cuts and Jobs […]

Posted By  |  December 18, 2018

With 2019 a little over two weeks away, here’s a seven-step checklist to do before 2018 ends: Check your FSA balance. Sometimes, people have a Flexible Spending Account (FSA) for eligible out-of-pocket health care expenses. You need to sustain approved expenses by December 31 to use these funds, or the funds may expire. Some plans allow […]

Posted By  |  December 9, 2018

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. 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. January […]

Posted By  |  November 29, 2018

From lower tax rates to new deductions for pass-through income, the revised tax laws may mean more cash in your pocket. Here are some tax planning opportunities you can take advantage of before year-end. New Standard Deduction versus Itemized Deductions For 2018, the new standard deductions are as follows: Married couples filing jointly – $24,000 […]

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The answer is, it depends. A typical tax strategy used by homeowners to help lower their taxable income has been to pay property taxes in advance for the following year. However, due to the Tax Cuts Jobs Act (TCJA), this plan may no longer make sense. For those living in low-tax states, accelerating your expenses […]