The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase
How do you report revenue and expenses from long-term contracts? Some companies that were required to use the percentage of completion method (PCM) under prior tax law may qualify for
As we approach the end of 2018, it is a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps.
Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, help family members, or see their loved ones enjoy
Some of your medical expenses may be tax deductible but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you
A tried-and-true year-end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction, but did you know that
In today’s tightening job market, to attract and retain the best employees, small businesses need to not only offer competitive pay but also appealing fringe benefits. Benefits that are tax-free
Employers: For Social Security, Medicare, and withheld income tax, file IRS Form 941 for the third quarter of 2018. Deposit any undeposited tax under the accuracy of deposit rules. (If
For investors, fall is a good time to review year-to-date gains and losses. Not only can it help you assess your financial health, but it also can help you determine
Individuals: If you have an automatic six-month extension to file your income tax return for 2017, file IRS Form 1040, 1040A, or 1040EZ and pay any tax, interest, and penalties
