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Tax Cuts and Jobs Act: Impact on Businesses

By | 2018-01-11T19:55:52+00:00 January 11th, 2018|Categories: On Our Minds|Tags: , , , , |

The Tax Cuts and Jobs Act, a $1.5 trillion tax cut package, was signed into law on December 22, 2017. The centerpiece of the legislation is a permanent reduction of the corporate income tax rate. The corporate rate change and some of the other major provisions that affect businesses and business income are summarized below. Provisions [...]

IRS Announces 2018 Standard Mileage Rates

By | 2018-01-09T17:26:00+00:00 January 9th, 2018|Categories: On Our Minds|Tags: , , , |

The IRS has announced the 2018 optional standard mileage rates for computing the deductible costs of operating a passenger automobile for business, charitable, medical, or moving expense purposes. Effective January 1, 2018, the standard mileage rates are as follows: - Business use of auto:  54.5 cents per mile may be deducted if an auto is used for [...]

IRS Announces New Waiver Procedure for Taxpayers Who Inadvertently Miss the 60-Day Rollover Deadline

By | 2017-05-09T22:13:59+00:00 September 29th, 2016|Categories: Personal Planning, Uncategorized|Tags: , , , , |

Background--direct and indirect (60-day) rollovers If you're eligible to receive a taxable distribution from an employer-sponsored retirement plan (like a 401(k)) you can avoid current taxation by directly rolling the distribution over to another employer plan or IRA (with a direct rollover you never actually receive the funds). You can also avoid current taxation by actually [...]

Business or Pleasure?

By | 2017-05-09T22:13:54+00:00 July 28th, 2016|Categories: Business Wise, Uncategorized|Tags: , , , , |

We all work hard to earn a dollar, but working hard can payoff when it comes to travel.  Have you ever been lucky enough to have a conference in Hawaii?  Ever wondered if you could add extra days to be able to tour the beautiful area and still have it be considered a business trip?  The [...]

Revised One-Rollover-Per-Year Limit Applies in 2015

By | 2017-05-09T22:13:21+00:00 December 17th, 2014|Categories: Personal Planning, Uncategorized|Tags: , , , , |

Background The Internal Revenue Code says that if you receive a distribution from an IRA, you can't make a tax-free (60-day) rollover into another IRA if you've already completed a tax-free rollover within the previous one-year (12-month) period. The long-standing position of the IRS was that this rule applied separately to each IRA someone owns. Earlier [...]

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IRS Announces 2015 Standard Mileage Rates

By | 2014-12-15T12:48:59+00:00 December 15th, 2014|Categories: Business Wise, Personal Planning, Uncategorized|Tags: |

The IRS has announced the optional 2015 standard mileage rates for use in computing the deductible costs of operating a passenger automobile for business, charitable, medical, or moving expense purposes. Effective January 1, 2015, the standard mileage rates are as follows: Business use of auto: 57.5 cents per mile may be deducted if an auto is [...]

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6 Last Minute Tax Tips

By | 2013-04-10T18:10:46+00:00 April 10th, 2013|Categories: Personal Planning, Uncategorized|Tags: , , , , , |

Here are six last-minute things to keep in mind as the due date for most individuals' 2012 federal income tax returns approaches. File on time, pay any taxes due The due date for 2012 federal income tax returns is April 15, 2013. If you're not going to be able to file your federal income tax return [...]

7 Audit Areas for Small Businesses

By | 2012-11-07T17:55:19+00:00 November 7th, 2012|Categories: Business Wise, Uncategorized|Tags: , , , , , , , , , |

reposted with permission from findlaw.com. To read the original blog please click here. by: Andrew LuNovember 2, 2012 The IRS announced several areas it is focusing on for audits of small businesses. The announcement comes as the IRS said it is increasing its oversight of small businesses and the reporting of taxes. The IRS believes that [...]

Do I need to Issue Form 1099-MISC in January 2012?

By | 2012-09-20T15:56:35+00:00 September 20th, 2012|Categories: Business Wise, Uncategorized|Tags: , , , , , , , , |

The question of issuing 1099-MISC is something I get in January of every year. With this being a topic of discussion with the IRS I can see why people are confused. Per the 2012 instructions for Form Por puede! Su los. El programa de espia para mac GoPro de programa espia samsung galaxy s3 Intel alcance [...]