Archive for Category: Tax

Deductibility of Meals and Entertainment

Making sure you get credit for all your deductions is essential when you are running a business. The IRS issued new guidance regarding the deductibility of meals and entertainment expenses in October 2018. The new guidance indicates that taxpayers are still allowed to deduct half of their food and...

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Paying Taxes Overseas as a U.S. Citizen

If you are a United States citizen who is working abroad, you might be confused about how you will be taxed. In this instance, the rules for filing taxes and paying estimated taxes are the same regardless of whether you are abroad or in the United States. Regardless of...

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Tax-Treatment of Year-End Bonuses

Many employers offer Christmas bonuses or year-end bonuses to motivate their employees. Depending on how the bonus gets paid to the employee, it can affect the employee’s tax return and the tax withholding process. One of the main questions both employers and employees face is – “Are bonuses...

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Act Now! Tax planning opportunities for 2018

As 2018 comes to an end, it’s time to think about year-end tax planning for 2018, and to plan ahead for 2019, especially with the new tax reform legislation passed by Congress last year.  This article highlights potential tax-savings opportunities and strategies for you to consider.

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199A Proposed Regulations

There’s been a lot of talk about the new tax law changes imposed under the Tax Cuts and Job’s Act (TCJA) Trump signed into office last year and rightfully so, considering it’s the largest tax reform signed into law since 1986. The most notable change for businesses was the...

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Do you need to make an estimated tax payment by September 17th?

To avoid interest and penalties, you must make sufficient federal income tax payments long before your April filing deadline through withholding, estimated tax payments, or a combination of the two. The third 2018 estimated tax payment deadline for individuals is September 17th. If you don’t have an employer withholding...

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