IRS Announces Good News For Savers
November 13, 2018
The Three Types of Audits that Businesses and Not-For-Profit's should do.
July 7, 2018
June 23, 2018
Why is bookkeeping so crucial?
June 16, 2018
A guide to treat contingent liability
May 26, 2018
Why Gross Margin is an important metric?
February 17, 2018
New United States Tax Law (Part 3)
January 31, 2018
New United States Tax Law (Part 2)
January 23, 2018
New United States Tax Law (Part 1)
January 16, 2018
Is your business solvent?
January 13, 2018
What do you call an accountant who is seen talking to someone? Popular
We are going to discuss three types of auditing. Every business s...
As a business owner, one of your greatest concerns that you face is whether or not your business is going to survive. Many businesses are in debt for...
The Internal Revenue Service has announced an increase in the amount of money you can to contribute to your retirement accounts for 2019.
In the next few posts, we would like to provide a brief overview of the new United States Tax Bill.
Here are some of the basics for Individuals:
Effective Date: January 1, 2018
Expires: January 1, 2026
Property Taxes: (applies to the United States only) plus state and local income taxes are capped at $10,000 per year.
Head of Household: $18,000
Married (filing joint): $24,000
2% Itemized Deductions that are no longer deductible:
Tax Preparation Fees
Unreimbursed Business Expenses
Continuing Education Expenses
Safe Deposit Fees
IRS Trustee Fees
Home Office Expenses
Depreciation on Computers
$250 educator expense that exceeds the adjusted gross income deduction amount
Job search costs
Unreimbursed Business: such as travel, meals, entertainment, gifts, and lodging
Unreimbursed business work clothes
Unreimbursed business tools and supplies
Alimony is no longer a deduction for paying ex-spouse and no longer income to recipient ex-spouse, but only to those who divorce after December 31, 2018.
Disclaimer: This blog is for information purposes only and is not intended to provide investing, accounting, tax or legal advice and should not be relied upon.
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