Tax

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Business Buy-Sell Agreements

This is the time of year when many business owners are planning for the new year, evaluating last year’s performance and goal setting. Many will prepare a budget or business plan, review their year-end financial [...]

By | January 24th, 2017|Tax, Uncategorized|

The Investment Interest Expense Deduction: Less Beneficial Than You Might Think

Investment interest — interest on debt used to buy assets held for investment, such as margin debt used to buy securities — generally is deductible for both regular tax and alternative minimum tax purposes. But [...]

By | January 24th, 2017|Tax|

Deduction for State and Local Sales Tax Benefits Some, But Not All, Taxpayers

The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes was made “permanent” a little over a year ago. This break can [...]

By | January 19th, 2017|Tax|

Help Prevent Tax Identity Theft by Filing Early

If you’re like many Americans, you might not start thinking about filing your tax return until close to this year’s April 18 deadline. You might even want to file for an extension so you don’t [...]

By | January 12th, 2017|Tax|

Team Member Spotlight: Mike McCreary

Service Group: Accounting & Financial Outsourcing and Tax Years with Dean Dorton: 9 Years in Accounting Industry: 22 Favorite thing about Dean Dorton: My favorite things are the people (both clients and staff) and the relationships I have [...]

By | January 11th, 2017|Tax|

Employee vs. Contractor

Third party relationships have become more important as companies look to leverage outside expertise. As relationships evolve, management needs to keep a close eye to determine if the third party contractor has become [...]

2017 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply [...]

By | January 9th, 2017|Tax|

Why Making Annual Exclusion Gifts Before Year End Can Still Be a Good Idea

A tried-and-true estate planning strategy is to make tax-free gifts to loved ones during life, because it reduces potential estate tax at death. There are many ways to make tax-free gifts, but one of the [...]

By | December 30th, 2016|Tax|

Few Changes to Retirement Plan Contribution Limits for 2017

Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2017. The only limit that has increased from the 2016 level is for contributions to [...]

By | December 29th, 2016|Tax|

IRS Extends 1095-C and 1095-B Deadline

In November, the IRS extended the deadline for employers to furnish Forms 1095-C and/or 1095-B to employees and covered individuals. The forms, which are required under the Affordable Care Act’s employer reporting mandate, are [...]