Information on taxes.

HSA

The ABCs of Health Savings Accounts (HSA's)

One health care arrangement that has been soaring in popularity in recent years has been the pairing of a high-deductible health plan (HDHP) with a Health Savings Account (HSA). The good news is that not only does an HSA provide a tax-advantaged…
529 savings plan

Save More for College Through a 529 Savings Plan

Any time is a good time for parents (and grandparents) to think about college funding. One option, which can be especially beneficial if the children in question still have many years until they’ll be starting their higher education, is a…
tax planning buying business

Tax Planning is Critical when Buying a Business

If you acquire a company, your to-do list will be long, which means you can’t devote all of your time to the deal’s potential tax implications. Tax planning is critical when buying a business. If you neglect tax issues during the negotiation…
employee meals IRS deduction

Providing Employee Meals Could Mean a Larger IRS Deduction

When businesses provide meals to their employees, generally their deduction is limited to 50%. But there are exceptions, for example, when the meal qualifies as a de minimis fringe benefit under the Internal Revenue Code. If you qualify, providing…
hackers

TAX RETURN SECURITY: IRS W-2 VERIFICATION CODE

TAX RETURN SECURITY: For the 2017 tax year the IRS will be testing a W-2 verification code to increase security when filing tax returns. Tax preparers and those preparing their own returns are urged to enter this code when filing out the W-2…
Roth IRA Conversion

Yes, It's Possible to undo a Roth IRA Conversion

Converting a traditional IRA to a Roth IRA can provide tax-free growth and the ability to withdraw funds tax-free in retirement. But what if you convert a traditional IRA — subject to income taxes on all earnings and deductible contributions…
Tax Basis Planning

Estate Taxes not a Factor? Consider Tax Basis Planning

For many people today, income tax planning offers far greater tax-saving opportunities than gift and estate tax planning. A record-high gift and estate tax exemption — currently $5.49 million ($10.98 million for married couples) — means…
Estate Tax Deferral

Estate Tax Deferral for your Family Business

If a substantial portion of your wealth is tied up in a family or closely held business, you may be concerned that your estate will lack sufficient liquid assets to pay federal estate taxes. If that’s the case, your heirs may be forced to…
4th Quarter Tax Deadlines

4th Q Tax Deadlines for Businesses & Employers

Here are some of the key 4th Quarter tax deadlines affecting businesses and other employers for 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting…
material participation

Material Participation: LLC & LLP Losses

Material participation is key to Deducting LLC and LLP losses. If your business is a limited liability company (LLC) or a limited liability partnership (LLP), you know that these structures offer liability protection and flexibility as well…