Recent Articles
S Corporation Year End Housekeeping Items for Bookkeepers
Since you are the frontline for many of our clients, we are writing to remind you of the proper tax treatment of several items that often get overlooked:
2018 Information Return Filing Requirements
The due date for 2018 Forms W-2, W-3, and 1099-MISC with data in box 7 for non-employee compensation is January 31, 2019, and applies to paper and electronically filed returns.
TAX CUT & JOBS ACT: CHANGES REGARDING PARKING TRANSIT PASSES
As part of the Tax Cuts & Jobs Act of [...]
2018 MEALS & ENTERTAINMENT UPDATE
The IRS has recently released guidance significantly changing the meals [...]
Who needs an estate plan?
Who needs an estate plan? Quick answer: Everyone Despite what [...]
IRS Regulations Regarding Service Businesses
Pass-Through Businesses The Tax Cuts and Jobs Act allows a [...]
The Tax Cuts and Jobs Act – June 2018 Update
The Tax Cuts and Jobs Act was passed in December [...]
Not-For-Profit Financial Reporting Changes
Financial reporting for not‐for‐profit organizations has not changed significantly in [...]
2017 Tax Cuts Act: What it Means
The Tax Cuts and Jobs Act was signed by President [...]
Dashboards: Creating and Implementing a Financial Dashboard Relevant to Nonprofits
A high-level concise graphical presentation can be created and used to track Key Performance Indicators (KPI; metrics that impact the business).
Discounts on Future Purchases Make for Tricky Deductions
Retail businesses will sometimes run customer loyalty programs that offer discounts on future gasoline purchases after qualifying purchases are made which customers may end up not using before the expiration date. The IRS says that you cannot deduct these discounts on your business income tax return until they are actually applied to purchases. Despite the IRS stance on this issue a taxpayer was able to win a case against it in the Third Circuit Court recently which reiterated the fact that this is a complicated issue.
How To Track Mileage via Mobile Apps
As you may know, many people are opting to use [...]