News

Resources, articles, and updates about taxes and accounting for individuals, businesses, and other organizations to help you reach your financial goals.


COVID-19 Information

The COVID-19 pandemic has upended all aspects of life around the world, including the world of business here in the U.S.

We have the changes to tax and financial planning all in one place.

Improvement Property Update

Qualified improvement property is any improvement to the interior portion of a building that is nonresidential real property (think office buildings and shopping centers) if you place the improvement in service after the date you place the building in service....

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Employee Recreation and Parties Survive TCJA Tax Reform

When you know the rules, you can party with your employees and deduct 100 percent of the cost. Interestingly, if you feed your employees during a training program, your deduction is only 50 percent. Make sure you know the rules that give you the 100 percent deduction...

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How to Deduct Medicare as a Business Expense

Premiums for Medicare health insurance can add up to a substantial sum. That’s especially true if  you have a high income, and you’re married and both you and your spouse are paying premiums.  Fortunately, the premiums can potentially help your tax...

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How to Calculate and Improve Your QBI from a Partnership

A general partner is taxed on partnership income that comes to him or her in the form of guaranteed payments and profit distributions. Profit distributions are qualified business income (QBI) for the Section 199A 20 percent tax deduction. Guaranteed payments and...

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IRS Updates Defined Wages for New Section 199A Tax Deductions

Your Section 199A tax deduction will benefit from your business’s W-2 wages paid to you and your employees if you are married and filing jointly and your taxable income is over $315,000 and less than $415,000;are filing as single or head of household and your taxable...

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