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Posted in Firm News on July 25, 2018
Medicare has begun to mail new ID cards to its millions of members. The replacement cards will have a new assigned ID number. These cards don’t have your social security number. The process of mailing new cards will take about a year. It is important to note that scammers have found another new way to steal… (Keep reading)
Posted in Firm News on July 20, 2018
Clients have asked and maybe hoped that under the new tax law “C” corporations no longer have what is considered a double taxation problem. The new tax rate for “C” corporations is a flat rate of 21%. Before the new tax laws “C” corporations were taxed at a graduated rate ranging from 15% to 35%. … (Keep reading)
Sexual Harassment and businesses
Posted in Firm News on June 26, 2018
In today’s climate with numerous sexual harassment claims filed, it should be noted that all companies must, I repeat must take all sexual harassment issues seriously! In fact, the IRS is taking sexual harassment so seriously that any business that settles a sexual discrimination or harassment claim cannot deduct the payment or attorney fees that are subject… (Keep reading)
Posted in Firm News on June 8, 2018
If you own your home but are unable to take care of yourself, here is something to think about. A taxpayer who has owned and used their home as their principle residence for at least 2 out of the 5 years leading up to the sale can exclude $250,000 or $500,000 if married on the… (Keep reading)
Posted in Firm News on May 29, 2018
The new Tax Cuts and Jobs Act increased the Standard Deduction for Married Filing Jointly is now $24,000; for Head of Household it is now $18,000 and for Single taxpayers or Married Filing separately, it is $12,000. With these changes, it is expected that more taxpayers will be choosing to take the Standard Deduction instead… (Keep reading)
