Accounting Suggestions for New Business Owners

If you are a small business owner, especially a new one, I’m sure that you have learned from the decisions that you made while getting started.  The following is a short list of suggestions for new entrepreneurs: Choosing your business entity It seems that everyone wants to be an LLC.  Is this right?  What about […]

New Standard Deduction

In late 2017, the President signed into law a tax reform bill that makes major revisions to the United States tax code.  The new law changes the way individuals and businesses will calculate their share of taxes on an annual basis.  One of the most important features of the law that has changed starting in […]

2017 Tax Reform: Last-minute year-end moves in light of Tax Cuts and Jobs Act

With the Tax Cuts and Jobs Act reportedly headed for the President\’s desk shortly, many clients may be asking what they can do before year-end to best position themselves for tax savings, and to avoid or soften the impact of disappearing deductions. Congress is enacting the biggest tax reform law in thirty years, one that […]

What You Can Do to Reduce Your Taxes at Year\’s End.

Reduce your tax liability? With the new tax law set to be passed the week before Christmas, there are ways to look into the future and possibly take advantage of some current laws this year (2017).  At the end of the year, most taxpayers are looking to make strategic moves to minimize their tax liability.  […]

Tax Exemptions and Deductions for Children

Deductions and Expenses for children Any child that you have that you claim on your tax return you\’re going to get a personal exemption for it in 2017. The personal exemption is $4,050 and will directly reduce the taxable income of the taxpayer claiming the child.  There is also a child care credit for 2017.  […]