Why Lenders Want Your Accrual Basis Financial Statements
As you prepare your business for the upcoming recession, you will want to evaluate things such as your headcount, pricing, business continuity plans, and cash flow / finances.
2019 October Tax Planning Letter
Dear Clients and Friends: With the first tax season under the Tax Cuts and Jobs Act (TCJA) behind us, we have a better understanding of the practical applications on the…
Will You Miss These Tax Deductions?
Form 1040 has a different look this year. Thanks to the Tax Cuts and Jobs Act (TCJA), the standard deduction has essentially been doubled while certain deductions have been modified…
Section 199A Deduction Phase-out Calculations
The Section 199A deduction phase-out calculations confuse lots of people. Below is a high-level overview of how the phase-out math works, including a quick review how the deduction works. Section…
Qualified Business Income Deduction (a/k/a “Section 199A Deduction”)
This new deduction within the Tax Cuts and Jobs Act produces big tax savings. Several clients have asked us again for more information about this new deduction, so here are…
A Triple Tax Benefit When Contributing to Your Health Savings Account
Millions of Americans are eligible to contribute to health savings accounts, or HSAs, but few people actually take full advantage of this tax-advantaged investment account or realize the full extent…