Nov 29, 2016 | Firm Updates, Individual Tax, Tax Tips
Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your tax advantage. After all, you control exactly when and how much you give. To ensure your donations will be deductible on your 2016 return,...
Nov 28, 2016 | Firm Updates, Small Business
In order to take advantage of two important depreciation tax breaks for business assets, you must place the assets in service by the end of the tax year. So you still have time to act for 2016. Section 179 deduction The Sec. 179 deduction is valuable because it allows...
Nov 23, 2016 | Firm Updates, Small Business
Last month we provided information about the new Fair Labor Standards Act (FLSA) regulations that were set to be implemented on December 1, 2016. Those new regulations are now suddenly on hold after a federal judge in Texas ruled in favor of a preliminary injunction...
Nov 23, 2016 | Firm Updates, Tax Tips
Smart timing of deductible expenses can reduce your tax liability, and poor timing can unnecessarily increase it. When you don’t expect to be subject to the alternative minimum tax (AMT) in the current year, accelerating deductible expenses into the current year...
Nov 21, 2016 | Firm Updates, Small Business, Tax Tips
The last month or so of the year offers accrual-basis taxpayers an opportunity to make some timely moves that might enable them to save money on their 2016 tax bill. Record and recognize The key to saving tax as an accrual-basis taxpayer is to properly record and...