Tax Consulting & Compliance

Is Your Employer Withholding Enough in Taxes?

Employer Tax Withholding

The Internal Revenue Service recently released Notice 1036, which updates the income-tax withholding tables for 2018. This reflects changes made by the signed Tax Cuts and Jobs Act. The update shows the new rates for employers to use during 2018, and should be implemented as soon as...

Should You Take Bonus Depreciation on Your 2017 Tax Return?

Bonus in 2017

Claiming bonus depreciation on your 2017 tax return may be particularly beneficial. With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December, enhances bonus depreciation.

Tax Reform Impact on Nonprofits

Tax Reform Impact on Nonprofits

By Elizabeth Resendes, CPA, MST, Senior Manager The Tax Cuts and Jobs Act enacted in December 2017 marks the most dramatic overhaul to the U.S. income tax code in decades. A number of provisions will have serious operational and tax reporting impacts on nonprofit entities, creating significant challenges for executives...

New Streamlined IRS Partnership Audit Rules

Partnership Audit Rules

-by Ron Dean, CPA, MST, Manager Implementation of the Tax Cuts and Jobs Act, coupled with a recent government shutdown, can make it difficult to stay informed on new legislative changes that may impact you. This can be especially true for legislation passed in 2015 but not effective until tax...

The Application of Tax Reform for Businesses and Individuals Event

Tax Reform Event

How will the new “Tax Cuts and Jobs Act” Impact You and Your Business? The recently passed tax reform bill, commonly referred to as the “Tax Cuts and Jobs Act” (TCJA), is the most expansive federal tax legislation since 1986. It includes a multitude of provisions that will have...

Small Business Tax Credits May Reduce Your Tax Bills

Tax credits for small businesses

The information below outlines two small business tax credits that may reduce your 2017 and 2018 tax bills. Tax credits reduce tax liability dollar-for-dollar, potentially making them more valuable than deductions, which reduce only the amount of income subject to tax. Maximizing available credits is especially important now that the...