Understanding New Tax Law Changes in 2018

January 23rd, 2018

SUMMARY OF NEW TAX LAW CHANGES Recently, the President signed the most substantial tax reform in over 30 years, the Tax Cuts and Jobs Act (TCJA).  While your 2017 tax returns will be prepared under the old laws, your 2018 tax return will look very different.  Since most of the changes don’t happen until 2018, […]

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Understanding AMT, Until It Gets Axed!

August 10th, 2017

  President Trump is proposing to ax the alternative minimum tax, but for now we can’t ignore it for tax planning. What is the AMT? AMT stands for Alternative Minimum Tax. It is a second taxing system that the government runs your returns through to see if adjustment items apply. In most cases, unfortunately, these […]

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The Business To-Do

March 18th, 2017

We’re sure you’ve heard the saying, “God is in the details.” Unfortunately, every year the IRS is in your details, and at a level that makes everyone a little panicky. However, just keeping minimally organized before you come see us will make all of this go smoother. We’ve put together a Business Tax Preparation Checklist […]

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How Do You Eat an Elephant?

March 7th, 2017

Pulling together all the paperwork and reconciling your accounts is not very much fun (although we think it is). There’s an old axiom that asks: how do you eat an elephant? The answer? One bite at a time. This is the time of year when it’s very helpful to remember that, so here are a […]

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What Now for Same-Sex Married Couples? (No. 74)

December 1st, 2015

There are more than 1,100 places in federal law where a protection or responsibility is based on marital status. The ruling striking down DOMA will not be effective until 25 days from the decision, but even when effective, federal agencies—including the IRS—may need and take some time to change forms, implement procedures, train personnel, and […]

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