Blog Archives

How to Handle Bad Debt and Taxes

11/21/2018

When can you use bad debt to reduce business income? Even when you take the customer to court and you still don't get your money, there's a way to make lemonade from this lemon of a customer.

Is Your Homeowners Insurance Up-to-Date?

11/21/2018

Alternative Minimum Tax -- What's It Like Today?

11/21/2018

The Tax Cuts and Jobs Act made many changes to the individual tax law, including the alternative minimum tax. One of the goals of the new tax law was to reduce the impact of the AMT or even to repeal it entirely. A modification was made — let's see what it could mean to you.
The AMT is a different way to calculate federal income tax. Implemented in 1969 to ensure that high-income households paid their fair share of taxes, it balanced taxes against how many deductions such households were entitled to. It later was indexed for inflation to help prevent it from hurting middle-class taxpayers it was never designed to affect.

Good Statements Get Good Loans

11/21/2018

You're looking for a loan. Your bank wants information to gauge if you've got a healthy company. The more a lender knows about your business — seeing into its financial workings — the better your chances of securing financing. Sufficient financial transparency can help obtain your loan.

401(k) and IRA Contribution Limits Increase

11/21/2018

The IRS has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019.

Social Security Administration Announces Changes for 2019

11/21/2018

According to the Social Security Administration, Social Security and Supplemental Security Income benefits for more than 67 million Americans will increase 2.8 percent in 2019. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2018. The Social Security Act ties the annual cost-of-living adjustment to the increase in the Consumer Price Index.

Payroll Cards: Know the Full Story

11/7/2018

Employees who do not have a relationship with a financial institution are typically referred to as "unbanked," which prevents them from being paid by direct deposit. As a solution, some employers offer payroll cards.

6 Key Facts About Excise Taxes

11/7/2018

Excise taxes are paid when purchases are made on specific goods or activities, such as wagering or highway usage by trucks. The producers or merchants pay the tax and typically include the additional tax in the price to the end consumer. Governments levy excise taxes on goods and services that have a high social cost, such as cigarettes, alcohol and gambling. Excise taxes are also referred to as selective sales or differential commodity taxes.

Child and Dependent Care Credit

11/7/2018

You may be wondering whether the money you spent on a day care center, a babysitter, summer camp or other provider to care for your qualifying child under age 13 or a disabled dependent of any age can earn you tax credits.

IRS Issues Guidance on Meal and Entertainment Deductions

11/7/2018

The Internal Revenue Service has issued guidance on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act.

The 2017 TCJA eliminated the deduction for any expenses related to activities generally considered entertainment, amusement or recreation.

<<Previous

How to Handle Bad Debt and Taxes

Is Your Homeowners Insurance Up-to-Date?

Alternative Minimum Tax -- What's It Like Today?

Good Statements Get Good Loans

401(k) and IRA Contribution Limits Increase

Social Security Administration Announces Changes for 2019

Payroll Cards: Know the Full Story

6 Key Facts About Excise Taxes

Child and Dependent Care Credit

IRS Issues Guidance on Meal and Entertainment Deductions

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Newsletter articles are posted every 2 weeks.