Tax

/Tax

Year End Tax Planning Tips 2016

With most of 2016 behind us, you may want to consider some year-end tax-saving ideas. Before acting on these, note the following: Most strategies do not apply universally, but only in specific circumstances. Many strategies [...]

November 30th, 2016|Tax|

Accelerating Your Property Tax Deduction to Reduce Your 2016 Tax Bill

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 [...]

November 28th, 2016|Tax|

Year-End Tax Strategies for Accrual-Basis Taxpayers

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 [...]

November 28th, 2016|Tax|

Accounting & Ethics Update Recap

On November 16, Dean Dorton provided its 12th version of the annual Accounting and Ethics Update. The firm utilized 17 presenters over nine sessions that covered a variety of topics from the latest in nonprofit reporting [...]

Fields v. Trustees of Princeton University Conclusion

In the long awaited conclusion to the Princeton University property tax lawsuit, the University announced that it had settled with area homeowners for more than $18 million. The residents of Princeton sought to have the [...]

November 21st, 2016|Higher Education, Tax|

What You Should Know About the Updated I-9 Form

On Monday, November 14, the United States Citizenship and Immigration Services (USCIS) released the anticipated new Form I-9 (Employment Eligibility Verification) that replaces the current version, which expired on March 31 of this year. [...]

It’s Beginning to Feel a Lot Like 1986

Whether you’re happy or not about the outcome of Tuesday’s election, now that we know we have Republicans in the White House, both houses of Congress, the governorship and the state legislature, it’s time [...]

There’s Still Time to Set Up a Retirement Plan for 2016

Saving for retirement can be tough if you’re putting most of your money and time into operating a small business. However, many retirement plans aren’t difficult to set up and it’s important to start saving [...]

November 10th, 2016|Tax|

Beware of Income-Based Limits on Itemized Deductions and Personal Expenses

Many tax breaks are reduced or eliminated for higher-income taxpayers. Two of particular note are the itemized deduction reduction and the personal exemption phaseout. Income thresholds If your adjusted gross income (AGI) exceeds the applicable [...]

November 8th, 2016|Tax|

2016 Kentucky Small Business Tax Credit: Apply by Nov. 1 to Secure 2016 Credit

Kentucky small businesses that added employees and equipment or technology in the past 24 months may qualify for a tax credit of up to $25,000 on their 2016 tax return through the Kentucky Small Business [...]

October 24th, 2016|Tax|