December 27, 2018

Protect Your Accounts from Cybercriminal Activity with Smarter Passwords

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.
November 20, 2018

S-Corp Tax Changes Could Mean a Reconsideration… to C-Corp

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

QBI Tax Deduction Offers New Savings for Small Business Owners

 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.
October 16, 2018

Changes to the Depreciation Bonus Small Business Owners Need to Know

This year’s tax changes to the depreciation bonus could positively affect your business—especially when it comes to writing off assets. As a business owner, as in the past, you’ll be able to write off most depreciable business assets in the year you placed them in service. This year the depreciation deduction for depreciable business assets with a depreciation period of 20 years or less, is much more generous than in years past. Here is an overview of the new rules that you’ll want to keep in mind.
September 25, 2018

Resources Available to Help Business Owners Understand Tax Reform

As a business owner, you may have questions about the Tax Cuts & Jobs Act, which passed in December 2017, and exactly how the law affects you. If you’re looking for answers, the IRS has provided several helpful resources for you to understand how the law affects you and your business.
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