Tax Planning

The deadline for implementing the FASB’s new leases accounting standard, ASC 842, is fast approaching. Many private companies are only just now realizing that they need to examine their leases in light of the new requirements to bring most leases on-balance sheet.

Be sure to review...

* my recent "Year-End Tax Planning 2019" blog (posted Oct 31, 2019), for a list of planning items - to do before December 31, 2019. Here's a link to all tax planning blogs.

it's October 1st & a great time to...

* review my 2019 tax blogs

* ask tax questions (now & before Dec31st)

* look at your 2019 Quickbooks accounting

* and maybe do a 2019 tax projection - to see what might happen this year!

Which Items are Tax Deductible when Selling a House?

When you list your house on the market, you’re probably thinking about how much money you’ll make or where you want to move next, not about your taxes. A home sale does have tax implications which can either help or hurt you in April.

Change is a constant part of life. With each change, adjustments have to be made. Certain changes in our lives puts us in a different tax category or changes how we need to file our taxes. Legally, we may come under different rules and requirements. There are tax advantages or credits that come with some of life's changes.

Two of the biggest concerns of those who are investing for retirement are not running out of money and maintaining regular cash flow.

t h i n k    a b o u t    i t . . .

did you get a smaller refund than you wanted? or had to pay more tax last year?

If so, now's the time to make changes. you can...

* increase your payroll withholding

* increase your quarterly estimates

With the acceptance of the Tax Cuts and Job Act reform, we are now seeing the results of one of the most expansive tax law changes in nearly thirty years.  With this came large changes to the forms and reporting structures themselves.  No longer are Forms 1040-A or 1040-EZ available for use – everyone must file utilizing Form 1040

One of the hardest things to do as a parent is to leave your child in someone else’s care so that you can go back to work.  Sometimes, preparing for the cost of that care can be nearly as difficult.  Some care centers can cost more than in-state tuition at a university.

We often think that having a home in multiple states is a great idea, and sometimes we contemplate working while traveling between these homes.  In some cases, our jobs take us to multiple locations.  What happens when we work in multiple states throughout the year?