Business Owners Beware – New Tax Law Severely Limits Entertainment Deductions
If you are a business owner who is accustomed to treating clients to sporting events, golf getaways, concerts and the like, we have some bad news for you. The GOP’s…
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Have Business Income? If So, You Score Big With The New Tax Reform
As part of the Act, Congress changed the tax-rate structure for C-corporations to a flat rate of 21% instead of the former graduated rates that topped out at 35%. Needing…
The Ultimate Cheat Sheet on Growing Your Business
Every business must have a constant eye on growth. If your company is not growing, it is losing key opportunities and longevity. Yet, growth does not always come from increased…
Employee vs. Independent Contractor – Tips for Business Owners
If you are a small business owner, whether you hire people as independent contractors or employees will impact the amount of taxes you withhold from their paychecks as well as…
Important Things to Know About IRAs
The individual retirement account (IRA) is one of the favored ways to save money for retirement. There are two types of IRAs: the traditional IRA and the Roth IRA. The…
Tax Reform and Your Taxes
Well, the Tax Cuts and Jobs Act (H.R. 1) has passed, mainly starting in 2018, and if you are confused by how this new law will impact you, you’re not…
Hiring the Right Employee Can Get You a Big Tax Credit
If you are an employer who is willing to help disadvantaged individuals, you could benefit from a substantial federal tax credit. Hiring certain new employees can qualify you for the…
Converting Your Traditional IRA to a Roth IRA Ahead of the Tax Reform Decision
When you convert a traditional IRA to a Roth IRA, you have to pay the tax on the conversion. However, individuals frequently do this so they can take advantage of…
You May Be Able to Sell Profitable Stocks Without Paying Any Tax
Taxpayers whose top marginal tax bracket is lower than 25% enjoy a long-term capital gain tax rate of zero. Yes, you read correctly: the tax on any long-term capital gains…
Following the Path to Tax Reform
As both the House and Senate have now passed tax reform proposals, you might be interested in an overview comparing the proposed changes so you’ll understand what the proposals entail…