There is a major change regarding W-2 and 1099 filings. In 2018, the IRS issued regulations that virtually eliminated the ability to ask for an extension to file these forms. This change means you must …Read More

 

Bitcoin is one of the so-called ‘cryptocurrencies,’ and the most successful by far. Its market value has at times been greater than that of Disney or IBM. In fact, Bitcoin is bigger than the total …Read More

 

Many businesses hired in 2017, and more are planning to hire in 2018. If you’re among them and your hires include members of a “target group,” you may be eligible for the Work Opportunity tax …Read More

 

Are you a high-income small-business owner who doesn’t currently have a tax-advantaged retirement plan set up for yourself? A Simplified Employee Pension (SEP) may be just what you need, and now may be a great …Read More

 

As the term suggests, for-profit companies are driven primarily by one goal — to maximize profits for their owners. Nonprofits, on the other hand, are generally motivated by a charitable purpose. Here’s how their respective …Read More

 

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 …Read More

 

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 Tax Cuts and …Read More

 

Owners of private businesses often wonder: How much is my business interest worth? Financial statements are a logical starting point for answering this question. Here’s an overview of how financial statements can serve as the …Read More

 

Although the drop of the corporate tax rate from a top rate of 35% to a flat rate of 21% may be one of the most talked about provisions of the Tax Cuts and Jobs …Read More

 

Click here for a PDF version:  Tax Law Changes