Is This Your Situation: Confused About Salary Rules in an S-Corp

You're in business to make money to feed your family, send the kids to college or drive the sports car of your dreams. But when you're a shareholder in an S corporation, how and how much you get paid can [...]

By | 2018-04-11T14:52:17+00:00 April 10th, 2018|Categories: Blog, Tax|Tags: , |0 Comments

Should You File Form SS-8 to Ask the IRS to Determine a Worker’s Status?

Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee benefit obligations.To find out [...]

By | 2018-04-11T14:53:50+00:00 April 9th, 2018|Categories: Blog, Tax|Tags: , |0 Comments

A Net Operating Loss on Your 2017 Tax Return Isn’t All Bad News

When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. If when filing your 2017 income tax return you found that your business had an NOL, there is an upside: tax benefits. But beware [...]

By | 2018-04-11T14:54:24+00:00 April 9th, 2018|Categories: Blog, Tax|Tags: |0 Comments

13 Tips for Effective Estate Planning

As your family grows, your estate matures and your assets become more substantial, it’s probably time to start thinking about an estate and trust plan. Estate and trust planning is a crucial step for those looking to ensure that [...]

By | 2018-04-11T14:54:50+00:00 April 6th, 2018|Categories: Blog, Estate & Trust, Tax|Tags: , |0 Comments

Tax Reform for Real Estate

In December of 2017, President Trump signed the Tax Cuts and Jobs Act (TCJA) into law. As a result, many Americans have questions about how the new tax laws are going to affect real estate and their personal income [...]

What Businesses Can Expect From Tax Reform

Now that the Tax Cuts and Jobs Act has officially been passed, it’s time to start looking at how these changes will affect your business. Below is an overview of what’s in the tax bill and how businesses may [...]

By | 2018-04-11T15:10:52+00:00 March 1st, 2018|Categories: Blog, Tax|Tags: , , |0 Comments

Tax Credit for Hiring from Certain “Target Groups” Can Provide Substantial Tax Savings

Many businesses hired in 2017, and more are planning to hire in 2018. If you’re among them and your hires include members of a “target group,” you may be eligible for the Work Opportunity tax credit (WOTC). If you [...]

By | 2018-04-11T15:13:57+00:00 February 28th, 2018|Categories: Blog, Tax|Tags: |0 Comments

Sec. 179 Expensing Provides Small Businesses Tax Savings on 2017 Returns

If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep this tax break in mind in your property purchase [...]

By | 2018-04-11T15:14:38+00:00 February 25th, 2018|Categories: Blog, Tax|Tags: |0 Comments

Claiming Bonus Depreciation on Your 2017 Tax Return May be Particularly Beneficial

With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December, enhances bonus depreciation. Typically, taking [...]

By | 2018-04-11T15:16:46+00:00 February 14th, 2018|Categories: Blog, Tax|Tags: , |0 Comments

Is This Your Situation: Bestowing Property in Different States

In this life, owning property in more than one state — such as a vacation beach house just over the state border from your principal residence — is a dream come true. But when you die, owning property in [...]

By | 2018-04-11T15:17:15+00:00 February 14th, 2018|Categories: Blog, Tax|Tags: |0 Comments