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January 22, 2019
Tax reform legislation enacted in December 2017 offers a new tax credit for employers who provide paid family and medical leave. Here are several facts about how this credit works and which employers are eligible to claim it:
January 2, 2019
A couple of weeks ago in my 18 Last Minute Tax Tips for 2018, I mentioned utilizing a new tactic called Qualified Opportunity Zones (QOZ). Investing in one of these zones is meant to help create jobs and spur economic development in distressed communities while providing a tax benefit to you. Making this investment may allow you to defer paying capital gains taxes if your investment meets certain criteria.
December 27, 2018
As we head into the New Year, it may be time to give you online accounts a new password. The IRS urges everyone to review passwords and incorporate stronger standards to protect your accounts. In doing so you can help combat the impact cybercriminals have on the world wide web, as strong passwords help protect accounts from cybercriminal activity. Building a better password is as easy as one, two, three.
December 18, 2018
As a small business owner, protecting your employees’ information is always important. However, with an ever-increasing wave of identity theft sweeping the country, the IRS wants you to beware of W-2 scams.
November 20, 2018
If you are a business owner with an S-Corp designation, you may want to consider changing to a C-Corporation designation thanks to the Tax Cuts and Job Act. These changes could mean more money in your pocket thanks to the new 21% flat tax rate on C-Corporations.
November 6, 2018
If your small business operates as a sole proprietor or through partnerships, S corporations, trusts, and estates, the new Qualified Business Income (QBI) deduction could mean you can now deduct up to 20% of specific types of business income. Thanks to the Tax Cuts and Jobs Act, the QBI deduction may also be claimed on certain dividends. Eligible business owners, those whose 2018 taxable incomes fall below $315,000 for joint returns and $157,500 for other taxpayers, need to know a few things in order to use this deduction.