Pass through business
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New Tax Law: Pass-through Businesses Deduction

Although the drop of the corporate tax rate from a top rate of 35% to a flat rate of 21% may be one of the most talked about provisions of the Tax Cuts and Jobs Act (TCJA), C corporations aren’t the only type of entity significantly benefiting…
deduction
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Can you Deduct Home Office Expenses?

Working from home has become commonplace. But just because you have a home office space doesn’t mean you can deduct expenses associated with it. And for 2018, even fewer taxpayers will be eligible for a home office deduction. Changes under…
Fruad

Don’t be a Victim of Tax Identity Theft: File Early

The IRS has just announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17 filing deadline, or even the extended deadline of October 15 (if you file for an extension by April 17).…
Have you taken state estate taxes into accoun
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Have you Taken Federal Gift & Estate Tax into Account?

The Tax Cuts and Jobs Act has doubled the federal gift and estate tax exemption, with inflation-adjustments projected to raise it to $11.18 million for 2018.This means federal estate taxes are a concern for fewer families, at least in the short…
bank fraud

How to Devise Big Data Strategies for your Business

You’ve probably heard or read the term “big data” at least once in the past few years. Maybe your response was a sarcastic “big deal!” under the assumption that this high-tech concept applies only to large corporations. But this isn’t…
outsourcing

Is Outsourcing the Right Thing for Your Business?

For many years, owners of small and midsize businesses looked at outsourcing much like some homeowners viewed hiring a cleaning person. That is, they saw it as a luxury. But no more — in today’s increasingly specialized economy, outsourcing…
business interruption insurance

Business Interruption Insurance

Natural disasters and other calamities can affect any company at any time. Depending on the type of business and its financial stability, a few weeks or months of lost income can leave it struggling to turn a profit indefinitely — or force…
Tax scam

W-2 Tax Scam

Watch out for the latest W-2 Tax Scam.  This Form W-2 phishing scam made victims of hundreds of organizations and thousands of employees last year. The IRS says the Form W-2 scam has emerged as one of the most dangerous phishing emails in…
bonus depreciation

The TCJA Temporarily Expands Bonus Depreciation

The Tax Cuts and Jobs Act (TCJA) enhances some tax breaks for businesses while reducing or eliminating others. One break it enhances — temporarily — is bonus depreciation. While most TCJA provisions go into effect for the 2018 tax year,…
estate taxes

Do You Have to Worry About Estate Taxes?

Among the taxes that are being considered for repeal as part of tax reform legislation is the estate tax. This tax applies to transfers of wealth at death, hence why it’s commonly referred to as the “death tax.” Its sibling, the gift tax…