TAKE TWO. WHEN SHOULD YOU AMEND A PREVIOUSLY FILED TAX RETURN?
Amending your tax return can be a cumbersome process. Contact us to assist you with filing amended returns that can eliminate the headaches that come with the process.
REJOICE – BUSINESS MEALS ARE STILL DEDUCTIBLE
Article Highlights: Ban on Deducting Entertainment Expenses Business Meals Mixed Entertainment and Meals Substantiation Requirements Disallowed Employee Business Expenses If you are a business owner who is accustomed to treating…
OCTOBER 2018 BUSINESS DUE DATES
October 1 – Fiduciaries of Estates and Trusts File a 2017 calendar year return (Form 1041). This due date applies only if you were given an extension of 5 ½…
OCTOBER 2018 INDIVIDUAL DUE DATES
October 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September, you are required to report…
The 20% Pass-Through Tax Deduction for Business Owners
The Tax Cuts and Jobs Act (HR 1, “TCJA”) established a brand new tax deduction for owners of pass-through businesses. Pass-through owners who qualify can deduct up to 20% of…
The Auto Deduction in 2018 – Mileage or Actual?
First and foremost, remember the auto deduction isn’t travel, but expenses for your car, truck or SUV. Also, remember this includes ALL your vehicles as long as they have some sort of business…
Why small business owners should have a qualified retirement plan
The benefits of establishing and maintaining a tax-qualified retirement plan have always been substantial. While not all qualified plans are designed in the same manner, they all share the following…
IRS releases updated withholding calculator and 2018 Form W-4
The IRS has completed updating its online withholding calculator that individual taxpayers can use to determine how many withholding allowances they should claim for 2018. The IRS also issued a new 2018 Form…