Fiduciary Tax under the Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act is widely regarded as one of the most significant tax bills passed in the last 30 years,  affecting nearly every type of taxpayer when it was passed in late 2017.  While the majority of the changes under the new law were aimed at individuals and businesses, the new law… Read more »

Charitable Gifting after the Tax Cuts and Job Act

Do you consider yourself charitably inclined? Do you frequently support charitable causes or organizations? According to the Giving USA 2018 Annual Report on Philanthropy, Americans gave a combined $410.02 billion to charities during 2017. While charitable giving is often seen as an ideal way for individuals to give back to the communities they live and… Read more »

2019 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 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… Read more »

Check deductibility before making year-end charitable gifts

As the holidays approach and the year draws to a close, many taxpayers make charitable gifts — both in the spirit of the season and as a year-end tax planning strategy. But with the tax law changes that go into effect in 2018 and the many rules that apply to the charitable deduction, it’s a… Read more »

Should C Corporations be Revisited?

With the recent changes in the Tax Cuts and Jobs Act and C Corporations seeing significant benefits, many have begun to circle back on their entity status. Why were tax rates reduced for C corporations under the new law? To put it simply, they wanted to incentivize the ‘big boys’ who chose to operate overseas… Read more »

What is missing? | Disaster Recovery Planning

With all of the focus on Cybersecurity in IT these days I think it is important to not forget about your disaster planning.  A cyber-event can definitely be considered a disaster and sometimes your Disaster Recovery Plan (DRP) could save you from a cyber-event but I want to talk about a basic element of a… Read more »

New Loss Limitations for Non-Corporate Taxpayers

If you starting a new business or investing in an existing business you should be aware of these new rules.  The Tax Cuts and Jobs Act (TCJA) provides that, for tax years after 2017 and before 2026, a taxpayer’s excess business loss for the tax year is disallowed.  This is an expansion of the old… Read more »

Failing to properly complete Form I-9 can be costly

In recent years, U.S. Immigration and Customs Enforcement (ICE) agency has focused its attention on construction companies and other businesses that rely heavily on foreign workers. And the agency isn’t just targeting companies that employ workers who are in the country illegally. It’s also penalizing businesses that fail to satisfy their employee verification paperwork requirements…. Read more »

New ABLE Account Advantages

ABLE accounts were created with the passage of the Stephen Beck Jr. Achieving a Better Life Experience Act of 2014. An ABLE account is a tax-advantaged savings vehicle that can be established for a designated beneficiary who is disabled or blind. Only one account is allowed per beneficiary. ABLE accounts are programs established and maintained… Read more »