Topics & tips about accounting, taxes, business, personal finance, and more!
This week’s blog focuses on one of our favorite changes in the Tax Cuts & Jobs Act (TCJA): Child Tax Credit (CTC). It can be a confusing topic to figure out on your own. In addition to our blog posts, be sure to check out our social media accounts. On Thursdays, we specifically compare the
Staying up to date with the latest technology is one of our main focuses. It allows us to be more efficient and work towards being the #FirmOfTheFuture. With many technology tools, we can advance our firm and strengthen the relationships with our clients. We strive to have a technology strategy that is fast, easy to
Have you looked at the amount you are withholding from your paycheck? You may have noticed an increase in your take home pay this year. Under the new Tax Cuts & Jobs Act, the standard deduction has doubled, personal exemptions have been eliminated and tax rates have dropped. Sounds good, right? The updated 2018 W-4 was
Businesses Section 199A (Qualified Business Income Deduction) One of our favorite additions! When calculating the “Pass Through Deduction” if your taxable income (line 43 on your 1040) is less than $315,000 married filing joint or $157,500 for other filers you automatically get the 20% deduction of Qualified Business Income (QBI).Once your taxable income exceeds these
Enactment of the Wayfair decision is coming to fruition as Congress had introduced a bill to phase in online sales tax collection, as per Accounting Today. Wayfair (South Dakota v. Wayfair) is the decision decided by the US Supreme Court giving states the ability to collect sales tax on internet sales although the vendor may
The aftermath of Hurricane Florence has left many with no power, flooding, and devastating damage to homes and entire towns throughout the Carolina’s. As victims work to recover from the damage, the IRS has granted those affected with an additional extension to file their tax returns and make certain tax payments. What are the terms