Nov 8, 2017 | Helpful Articles, Tax Planning and Preparation
The Tax Cuts and Jobs Act introduced by the house on November 2nd have been receiving a great deal of coverage because of the extensive changes proposed. Gone would be many of the provisions individuals rely on (credits, personal exemptions, deduction of state taxes,...
Aug 7, 2017 | Tax Planning and Preparation
The federal income tax is a pay-as-you-go system. Employers generally withhold tax from workers’ wages. Taxpayers also often have taxes withheld from certain other income including pensions, bonuses, commissions and gambling winnings. People who do not pay tax through...
Feb 2, 2017 | Tax Planning and Preparation
When it comes to filing tax returns, doing business in multiple states can cause headaches for a pass-through business and its owners. Not only does the business have to file taxes in the states it does business in, but each owner needs to file individually in those...
Jan 7, 2017 | Helpful Articles, Tax Planning and Preparation
One tax strategy many people overlook is their children. The obvious areas are child tax credits and personal exemptions, but these are low hanging fruit. For a business owner, there is another, more lucrative tier. In short, put your kids to work. This is not a...
Dec 13, 2016 | Tax Planning and Preparation
As 2016 draws to a close, there are some important items to keep in mind when putting together information for 2016 W-2’s. Company provided vehicle: If your company provides you, or any employee, with a company vehicle that is also used personally, you should include...
Dec 3, 2016 | Helpful Articles, Tax Planning and Preparation
Anyone who has stock options, grants or appreciation rights knows that cashing in can have big tax implications in that year. An 83(b) election is a tool for reducing the overall tax by strategically taxing them when granted, instead of when exercised or vested. While...
