A new general business credit was introduced with the Tax Cuts and Jobs Act for employers who provide paid family and medical leave to their employees for 2018 and 2019. To take advantage of this credit, employers must have a separate provision in the employer's policies; mo...

As we get closer to year-end, we thought it would be helpful to review some of the key tax law changes that come into play for businesses in 2018. Section 179 Deduction - Increased the maximum annual Section 179 deduction to $1 million and increase the deduction phase-out t...

The new tax rules allow more businesses to use the cash-method accounting for tax purposes. Assuming your business is eligible, cash-method accounting creates the ability to micromanage 2018 and 2019 taxable income to minimize taxes over the two-year period. Here are some sp...

Is your construction company ready for the new Revenue Recognition changes coming? Hopefully you have heard something in the last few years regarding the changes coming for revenue recognition.  If not, we’ve got you covered. Construction Contractors may be the industry ...

Most business owners want to grow their companies. And one surefire sign of growth is when ownership believes the company can expand its operations to a second location. If your business has reached this point, or is nearing it, both congratulations and caution are in order...

Choosing the right CPA firm for your annual real estate compliance audit:  Depending on the type of mortgage on your property, that may determine what type of compliance requirements are required to be reported annually. Property owners with mortgages that require any type ...

To capitalize or to expense? Property owners tend to struggle with wanting to expense as much repairs and maintenance (R&M) as possible during the year to maximize tax deductions, and to possibly increase any losses during the year. We assist many clients with determining wh...

You have a child! Congratulations! Start saving for their education since it comes sooner than you think.  The “parenting time continuum” is baffling: it feels like your child will never sleep through the night, yet education costs come knocking at your door all to soon...

If you’ve done any research into employee benefits for your business recently, you may have come across a bit of alphabet soup in the form of “HSA + HDHP.” Although perhaps initially confusing, this formula represents an increasingly popular model for health care bene...

The new tax law increases the limit on cash contributions to public charities and certain private foundations from 50% to 60% of AGI. That being said; the law also increased the standard deduction, in fact it almost doubled. The higher standard deduction along with the capp...

The new federal tax law reduces the limit on home acquisition debt to $750,000. For married taxpayers filing separately, the debt limit is halved to $375,000. In addition the law generally disallows home equity debt interest. Although, home equity interest paid on home equit...