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Accounting News
Tax Reform Viewpoint: Meals and Entertainment
By Jordan Toone, CPA Is your company ready for the changes related to the deductibility of meals and entertainment expenses? Effective for tax years beginning after December 31, 2017, the ‘Tax Cuts and Jobs Act’ (the Act) significantly changes the amount that will be...
read moreDon’t overlook record-keeping for your business
By Jessica Donaldson Do you own and run your own business? Are you aware of how long you are required to hold on to receipts, invoices paid, or employee forms? Keeping your documents and records organized is vital to your business - whether you are a brand-new...
read moreYear-end planning: Considerations for those about to get married
Prospective spouses have the opportunity to save money by taking income tax considerations into account before tying the knot. That's particularly true for those who plan to marry late this year or early next year. As this article explains, from the federal income tax...
read moreRetirees Urged to Use Withholding Calculator to Estimate Tax Liability and Avoid Penalty
The IRS has urged retirees to perform a "paycheck checkup" using the Withholding Calculator to verify that they were having the right amount of tax withheld from their pensions and annuity checks. This guidance is part of the "Paycheck Checkup" campaign aimed at...
read moreYear-end tax planning: Last chance to unwind 2017 IRA-to-ROTH IRA conversions
Taxpayers who made a regular-IRA-to-Roth-IRA conversion in 2017 may regret their decision due to factors such as market declines. Fortunately, such taxpayers may unwind their conversions, but they must act no later than Oct. 15, 2018. Background. Taxpayers who believe...
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