January 15, 2019 / by Jamie Burt / Uncategorized
While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing status. But some may see additional tax savings due to their filing […]
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How entrepreneurs must treat expenses on their tax returns
May 13, 2019 / by Jamie Burt / Uncategorized / 0 comments
Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open the doors, you generally have to spend a lot of money. You may have to train workers and pay for rent, utilities, marketing and […]
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Plug in tax savings for electric vehicles
May 13, 2019 / by Jamie Burt / Uncategorized / 0 comments
While the number of plug-in electric vehicles (EVs) is still small compared with other cars on the road, it’s growing — especially in certain parts of the country. If you’re interested in purchasing an electric or hybrid vehicle, you may be eligible for a federal income tax credit of up to $7,500. (Depending on […]
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The 2018 gift tax return deadline is almost here
March 12, 2019 / by Jamie Burt / Uncategorized
Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2018 gift tax return — or whether filing one would be beneficial even if it isn’t required. Filing requirements Generally, you must file a gift tax return for […]
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Refine your strategic plan with SWOT
January 30, 2019 / by Jamie Burt / Uncategorized
With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general outline but haven’t quite put the finishing touches on it yet. In either case, there’s a time-tested approach to refining your strategic plan that you should consider: a SWOT analysis. Let’s […]
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There’s still time to get substantiation for 2018 donations
January 22, 2019 / by Jamie Burt / Uncategorized
If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t received such a letter — can you still claim an itemized deduction for the gift on your 2018 income tax return? It depends. Basic requirements […]
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What will your marginal income tax rate be?
January 15, 2019 / by Jamie Burt / Uncategorized
While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing status. But some may see additional tax savings due to their filing […]
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2 major tax law changes for individuals in 2019
January 15, 2019 / by Jamie Burt / Uncategorized
While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under the act for 2019. Here’s a closer look. 1. Medical expense deduction threshold With rising health care costs, claiming whatever tax breaks related to health […]
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A refresher on major tax law changes for small-business owners
January 7, 2019 / by Jamie Burt / Uncategorized
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe taxes or get a refund when they file their returns […]
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Act soon to save 2018 taxes on your investments
December 19, 2018 / by Jamie Burt / Uncategorized
Do you have investments outside of tax-advantaged retirement plans? If so, you might still have time to shrink your 2018 tax bill by selling some investments • you just need to carefully select which investments you sell. Try balancing gains and losses If you’ve sold investments at a gain this year, consider selling some losing […]
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2019 Q1 tax calendar: Key deadlines for businesses and other employers
December 14, 2018 / by Jamie Burt / Uncategorized
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January […]
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