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COULD A COST SEGREGATION STUDY HELP YOU ACCELERATE DEPRECIATION DEDUCTIONS?

Businesses that acquire, construct or substantially improve a building should consider a cost segregation study Read more here.


TAX-FREE FRINGE BENEFITS HELP SMALL BUSINESSES AND THEIR EMPLOYEES

Benefits that are tax-free are especially attractive to employees Read more here.


RESEARCH CREDIT AVAILABLE TO SOME BUSINESSES FOR THE FIRST TIME

The research credit may be available to some businesses for the first time Read more here.


CONSIDER ALL THE TAX CONSEQUENCES BEFORE MAKING GIFTS TO LOVED ONES

Be aware that which assets you give can produce substantially different tax consequences Read more here.


529 PLANS OFFER TWO TAX-ADVANTAGED EDUCATION FUNDING OPTIONS

And one of these plans got even better under the Tax Cuts and Jobs Act (TCJA) Read more here.


DONATE APPRECIATED STOCK FOR TWICE THE TAX BENEFITS

You can enjoy an additional tax benefit if you donate long-term appreciated stock instead of cash Read more here.


HOW TO REDUCE THE TAX RISK OF USING INDEPENDENT CONTRACTORS

If the IRS reclassifies a worker as an employee, your business could be hit with back taxes, interest and penalties Read more here.


HOME GREEN HOME: SAVE TAX BY SAVING ENERGY

“Going green” at home - whether it’s your principal residence or a second home - can reduce your tax bill Read more here.


3 TRADITIONAL MIDYEAR TAX PLANNING STRATEGIES FOR INDIVIDUALS

Certain strategies that were once tried-and-true will no longer save or defer tax. But there are some that will hold up for many taxpayers.  Read more here.


A REVIEW OF SIGNIFICANT TCJA PROVISIONS AFFECTING SMALL BUSINESSES

Now is a good time to review the TCJA provisions that may significantly impact small business taxes for 2018 and beyond  Read more here.


TCJA CHANGES TO EMPLOYEE BENEFITS TAX BREAKS: 4 NEGATIVES AND A POSITIVE

The TCJA includes four negative and one positive change to employee benefits that will impact not only employees but also the businesses providing the benefits Read more here.


WATCH OUT FOR UNDERWITHHOLDING IN 2018

The new IRS tables may be correct for individuals with simple tax situations, but they might cause other taxpayers to not have enough withheld Read more here.


CAN YOU CLAIM YOUR ELDERLY PARENT AS A DEPENDENT ON YOUR TAX RETURN?

Perhaps. It depends on several factors, such as your parent’s income and how much financial support you provided. Read more here.


HOME-RELATED TAX BREAKS ARE VALUABLE ON 2017 RETURNS, WILL BE LESS SO FOR 2018

The U.S. tax code includes many tax breaks that help support the American dream of Home ownership Read more here.


REPAIRS VS. IMPROVEMENTS MAKES A BIG DIFFERENCE FOR TAXES

Correctly distinguishing repairs from improvements is critical to maximizing your tax savings Read more here.


STORM DAMAGE? HERE'S THE TAX RULES YOU NEED TO KNOW

For 2018 through 2025 this deduction is only allowed for losses due to an event officially declared a disaster by the President Read more here.


SIZE OF CHARITABLE DEDUCTIONS DEPENDS ON MANY FACTORS

Whether you’re claiming charitable deductions on your 2017 return or planning for 2018, be sure you know how much you’re allowed to deduct Read more here.


SEC. 179 EXPENSING PROVIDES SMALL BUSINESSES TAX SAVINGS ON 2017 RETURNS-AND MORE SAVINGS IN THE FUTURE

Sec. 179 expensing allows the entire cost of qualifying property and software to be deducted in Year 1 Read more here.


SMALL BUSINESS OWNERS: A SEP MAY GIVE YOU ONE LAST 2017 TAX AND RETIREMENT SAVING OPPORTUNITY

Business owners: A Simplified Employee Pension (SEP) may give you one last 2017 tax and retirement saving opportunity Read more here.


CLAIMING BONUS DEPRECIATION ON YOUR 2017 TAX RETURN MAY BE PARTICULARLY BENEFICIAL

Deductions save more tax when rates are higher, and most businesses’ tax rates will go down in 2018 Read more here.


MEDICAL EXPENSES WILL BE EASIER TO DEDUCT IN 2017 & 2018

The Tax Cuts and Jobs Act (TCJA) has temporarily reduced the threshold for deducting medical expenses Read more here.


DOWNLOADABLE GUIDE TO EMPLOYER HEALTHCARE REQUIREMENTS

Download this handy PDF guide to employer health insurance requirements Read more here.


2 TAX CREDITS JUST FOR SMALL BUSINESSES MAY REDUCE YOUR 2017 AND 2018 TAX BILLS

Maximizing available credits is especially important now that the Tax Cuts and Jobs Act has reduced or eliminated some tax breaks for businesses Read more here.


CAN YOU DEDUCT HOME OFFICE EXPENSES UNDER THE NEW TAX LAW?

For 2018, fewer employees will be eligible for a home office deduction. Read more here.


YOUR 2017 TAX RETURN MAY BE YOUR LAST CHANCE TO TAKE THE “MANUFACTURERS’ DEDUCTION”

One break the new tax law eliminates is the Section 199 "manufacturers’ deduction” Read more here.


DOWNLOADABLE SUMMARY OF THE NEW PASS-THROUGH DEDUCTION

Download this handy PDF chart of the new deduction for pass-through businesses Read more here.


DOWNLOADABLE SUMMARY OF TCJA FOR BUSINESSES

Download this handy PDF chart of the TCJA provisions effecting businesses Read more here.


DOWNLOADABLE SUMMARY OF TCJA FOR INDIVIDUALS

Download this handy PDF chart of the TCJA provisions effecting individuals Read more here.


THE TCJA TEMPORARILY EXPANDS BONUS DEPRECIATION

You might be able to benefit from the bonus depreciation enhancements when you file your 2017 tax return Read more here.


TAX CUTS AND JOBS ACT: KEY PROVISIONS AFFECTING BUSINESSES

TCJA is the most expansive tax legislation since 1986. Here’s some of the most significant changes impacting businesses. Read more here.


TAX DEDUCTION FOR DETERIORATING HOUSE FOUNDATIONS

Tax relief for Connecticut residents who have problems with certain residential concrete foundations Read more here.


DOWNLOADABLE GUIDE TO THE HOME OFFICE DEDUCTION

Do you run your business or side hustle out of your home? Here's a handy guide to the home office deduction Read more here.


SHOULD YOU BUY A BUSINESS VEHICLE BEFORE YEAR END?

Don’t make a purchase without first looking at whether tax reform legislation could affect the tax benefit of a 2017 vs. 2018 purchase Read more here.


WHAT YOU NEED TO KNOW ABOUT YEAR-END CHARITABLE GIVING IN 2017

Here are some important considerations to keep in mind this year to ensure you receive the tax benefits you desire Read more here.


7 LAST MINUTE TAX-SAVING TIPS

The year is quickly drawing to a close, but there’s still time to take steps to reduce your 2017 tax liability Read more here.


2018 FIRST QUARTER TAX DEADLINES

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2018 Read more here.


GUIDE TO TAX RECORDKEEPING

Here's the most requested downloadable guide - Tax Recordkeeping Rules Read more here.


GUIDE TO USING YOUR CAR FOR BUSINESS

Use your car for business?  Download this Guide to Business Use of Vehicles Read more here.


TAX GUIDE FOR NEWLYWEDS

You're getting married, congratulations!  Make sure to download this tax guide for newlyweds. Read more here.


GUIDE TO REVERSE MORTGAGES

Planning for retirement - download this Guide to Reverse Mortgages. Read more here.


ACCRUAL-BASIS TAXPAYERS: THESE YEAR-END TIPS COULD SAVE YOU TAX

Timing income and expenses can be a little more challenging for accrual-basis taxpayers than for cash-basis ones. Read more here.


GETTING AROUND THE $25 DEDUCTION LIMIT FOR BUSINESS GIFTS

At this time of year, it’s common for businesses to make thank-you gifts. Tax rules limit the deduction to only $25 per person per year. But there are exceptions. Read more here.


HOW TO PAY NO TAX ON CAPITAL GAINS

Even if your income is high, your family may be able to benefit from the 0% long-term capital gains rate. Read more here.


WHEN YOU NEED TO PREPARE 1099 FORMS

The IRS has begun focusing heavily on taxpayer compliance with information reporting laws. Penalties for compliance failures have increased sharply. Read more here.


REDUCE YOUR 2017 TAX BILL BY BUYING BUSINESS ASSETS

To enjoy these breaks on your 2017 tax return, you generally must acquire and place assets in service by Dec. 31. Read more here.


WHY YOU MAY WANT TO ACCELERATE YOUR PROPERTY TAX PAYMENT INTO 2017

Prepaying your property tax (by Dec. 31) may be especially beneficial this year, because of proposed tax legislation. Read more here.


2017 MIGHT BE YOUR LAST CHANCE TO HIRE VETERANS AND CLAIM A TAX CREDIT

With Veterans Day on November 11, it’s an especially good time to think about the sacrifices veterans have made for us and how we can support them. Read more here.


RESEARCH CREDIT CAN OFFSET A SMALL BUSINESS’S PAYROLL TAXES

Does your small business engage in R&D activities? If so, you may be eligible for a research tax credit that you can use to offset your federal payroll tax bill. Read more here.


HOW TO MAXIMIZE DEDUCTIONS FOR BUSINESS REAL ESTATE

Whether real estate is occupied by your business or rented out, here’s how you can maximize your deductions. Read more here.


RETIREMENT SAVINGS OPPORTUNITY FOR THE SELF-EMPLOYED

If you’re self-employed you may be able to contribute much more to a retirement plan than you can contribute to an IRA or even a 401(k). Read more here.


WHICH TAX-ADVANTAGED HEALTH ACCOUNT SHOULD BE PART OF YOUR BENEFITS PACKAGE?

Which one should you include in your benefits package? Here’s a look at the similarities and differences of HRAs, HSAs and FSAs. Read more here.


2 OBAMACARE TAXES THAT MAY APPLY TO YOUR EXECUTIVE COMP

Tax planning for executive compensation is more complicated if you could potentially be subject to two taxes under the Affordable Care Act. Read more here.


ACCELERATE YOUR RETIREMENT SAVINGS WITH A CASH BALANCE PLAN

One solution for business owners to set aside more for retirement may be a cash balance plan. Read more here.


DON’T IGNORE THE OCT. 16 EXTENDED FILING DEADLINE JUST BECAUSE YOU CAN’T PAY YOUR TAX BILL

If you extended your return and know you owe tax but can’t pay the bill, you may be wondering what to do next.  Read more here.


TIMING STRATEGIES COULD BECOME MORE POWERFUL IN 2017, DEPENDING ON WHAT HAPPENS WITH TAX REFORM

Typically, it’s better to defer tax. This might end up being especially true this year, if tax reform legislation is signed into law. Read more here.


“BUNCHING” MEDICAL EXPENSES WILL BE A TAX-SMART STRATEGY FOR MANY IN 2017

 If tax reform legislation is signed into law, it might be especially beneficial to bunch deductible medical expenses into 2017. Read more here.


2 WAYS SPOUSE-OWNED BUSINESSES CAN REDUCE THEIR SELF-EMPLOYMENT TAX BILL

High self-employment tax bills can be costly. Fortunately, there are ways spouse-owned businesses can lower their combined SE tax hit. Read more here.


INVESTORS - BEWARE OF THE WASH SALE RULE

Think you can simply sell an investment at a loss to offset gains, and then immediately buy it back? Not so fast. You need to beware of the wash sale rule. Read more here.


SHOULD YOUR BUSINESS USE PER DIEM RATES FOR TRAVEL REIMBURSEMENT?

Travel expenses often attract IRS attention.  Is the per diem method the answer? Read more here.


WHY YOU SHOULD BOOST YOUR 401(K) CONTRIBUTION RATE BETWEEN NOW AND YEAR END

Because of tax-deferred compounding, boosting contributions sooner rather than later can have a significant impact on the size of your nest egg at retirement. Read more here.


SAVE MORE FOR COLLEGE THROUGH THE TAX ADVANTAGES OF A 529 SAVINGS PLAN

With kids back in school, it’s a good time for parents (and grandparents) to think about college funding. One option is a Section 529 plan. Read more here.


COULD CAPTIVE INSURANCE REDUCE HEALTH CARE COSTS AND SAVE YOUR BUSINESS TAXES?

To meet the challenge of rising health insurance costs, some employers are opting for a creative alternative to traditional health insurance known as “captive insurance.” Read more here.


YES, YOU CAN UNDO A ROTH IRA CONVERSION

There are several possible reasons to undo a Roth IRA conversion and fortunately, it’s possible to undo a Roth IRA conversion, using a “recharacterization.” Read more here.


A “BACK DOOR” ROTH IRA CAN BENEFIT HIGHER-INCOME TAXPAYERS

Is your income too high to contribute to a ROTH IRA? This strategy may make it possible. Read more here.


COVERDELL ESAS: THE TAX-ADVANTAGED WAY TO FUND ELEMENTARY AND SECONDARY SCHOOL COSTS

One major advantage of ESAs over another popular education saving tool, the Section 529 plan, is that tax-free ESA distributions aren’t limited to college expenses. Read more here.


SHOULD YOU WORRY ABOUT THE ESTATE TAX?

What’s your estate tax exposure? Here’s a simplified way to project your estate tax exposure. Read more here.


OPERATING ACROSS STATE LINES PRESENTS TAX RISKS — OR POSSIBLY REWARDS

Operating in another state means possibly being subject to taxation in that state. The resulting liability can, in some cases, inhibit profitability. But sometimes it can produce tax savings. Read more here.


LOOKING FOR A RETIREMENT PLAN FOR YOUR BUSINESS? HERE’S ONE SIMPLE OPTION

Has your small business procrastinated in setting up a retirement plan? You might want to take a look at a SIMPLE IRA.  Read more here.


THE SEVEN TESTS FOR DEDUCTING LLC LOSSES

If your business is an LLC or LLP, owners must meet any one of seven “material participation” tests to avoid passive treatment. Read more here.


HOME OWNERSHIP COMES WITH MANY TAX-SAVING OPPORTUNITIES

Consider both deductions and exclusions related to home ownership when you’re filing your 2016 return and tax planning for 2017. Read more here.


3 MIDYEAR TAX PLANNING STRATEGIES FOR INDIVIDUALS

Here are three tax strategies for individuals that can be more effective if you begin executing them midyear. Read more here.


GUIDE TO GIFT TAXES

Making gifts can have tax consequences.  My Guide to Gift Taxes will tell you what you need to know before making a gift. Read more here.


ESOPS OFFER BUSINESSES TAX AND OTHER BENEFITS

Business owners can benefit from some potential tax breaks, an extra-motivated workforce and potentially a smoother path for succession planning. Read more here.


TAX GUIDE FOR RIDE SHARING DRIVERS

My downloadable tax guide for Uber and Lyft drivers. Read more here.


GUIDE TO HEALTH SAVINGS ACCOUNTS (HSA)

My concise guide to Health Savings Accounts (HSA) Read more here.


3 MIDYEAR TAX PLANNING STRATEGIES FOR BUSINESS

 Here's three midyear tax strategies inspired by the Protecting Americans from Tax Hikes (PATH) Act:  Read more here.


NONQUALIFIED STOCK OPTIONS DEMAND TAX PLANNING ATTENTION

The tax consequences of these types of options can be complex. So smart tax planning is critical. Read more here.


ALL FRINGE BENEFITS AREN’T CREATED EQUAL FOR TAX PURPOSES

All fringe benefits aren’t created equal for tax purposes.  They can be fully, partially or nontaxable. Read more here.


OWN A VACATION HOME? ADJUSTING YOUR USE MIGHT SAVE TAXES

Now that we’ve hit midsummer, if you own a vacation home that you both rent out and use personally, it’s a good time to review the potential tax consequences. Read more here.


GUIDE TO HOUSEHOLD EMPLOYEES

Many families employee nannys, elder care workers and other individuals to perform services for their family.  Learn what your tax reporting requirements are using my handy guide. Read more here.


CLAIMING A FEDERAL TAX DEDUCTION FOR MOVING COSTS

Moving can be expensive. The good news is that you might be eligible for a federal tax deduction for your moving costs.  Read more here.


DONATING A VEHICLE MIGHT NOT PROVIDE THE TAX DEDUCTION YOU EXPECT

 If you donate your vehicle, the value of your deduction can vary greatly depending on what the charity does with it. Read more here.


3 BREAKS FOR BUSINESS CHARITABLE DONATIONS YOU MAY NOT KNOW ABOUT

Donating to charity is more than good business citizenship; it can also save tax. Here are three lesser-known federal income tax breaks for charitable donations by businesses. Read more here.


KEEP REAL ESTATE SEPARATE FROM YOUR BUSINESS’S CORPORATE ASSETS TO SAVE TAX

It’s common for a business to own the building where the business operates. There can, however, be negative consequences to this structure. Read more here.


CAPITAL GAINS AND LOSSES

Guide to capital gains and losses, qualified dividends, and their special tax rates. See the pdf. Read more here.


ARE YOU TAKING FULL TAX ADVANTAGE OF YOUR BUSINESS PROPERTY?

Make sure you are taking advantage of these tips. Check out this fun infographic. Read more here.


HIRE A VETERAN

Don't miss out on these special employer incentive programs. Check out this info graphic and see why hiring a veteran is a good idea.  Read more here.


DEDUCT ALL OF THE MILEAGE YOU’RE ENTITLED TO — BUT NOT MORE

You probably know that miles driven for business can be deductible. But did you know you may be able to deduct miles driven for other purposes?  Read more here.


WHAT YOU NEED TO KNOW ABOUT THE TAX TREATMENT OF ISOS

Got incentive stock options? Here’s what you need to know about their tax treatment. Read more here.


THE INVESTMENT INTEREST EXPENSE DEDUCTION: LESS BENEFICIAL THAN YOU MIGHT THINK

The investment interest expense deduction may be less beneficial than you thought.  Read more here.


WORKERS AGE 50 AND UP: BOOST RETIREMENT SAVINGS BEFORE YEAR END WITH CATCH-UP CONTRIBUTIONS

If your 40s are behind you, consider boosting retirement savings and reducing your 2016 tax bill with a 401(k) catch-up contribution by year end.  Read more here.


PREPAID TUITION VS. COLLEGE SAVINGS: WHICH TYPE OF 529 PLAN IS BETTER?

529 plans offer a tax-advantaged way to fund college. With a prepaid tuition plan, tuition is guaranteed regardless of its cost when the child attends the school. Read more here.


GET 2 TAX BENEFITS FROM 1 DONATION: GIVE APPRECIATED STOCK INSTEAD OF CASH

Get two tax benefits for one donation by giving appreciated stock instead of cash. Read more here.

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