You’ll get more money back if you have kids under the new tax law

While many aspects of the current tax reform bill are controversial, one of the most talked about new Trump tax breaks under the law is the Child Tax Credit provision.  Married couples everywhere delighted with the announced increase in the child tax credit for 2018. This is the credit that taxpayers receive if you have a dependent child aged 17 … Read More

Property, state and local taxes are still deductible, up to a point

A momentous change took place last December 2017 in the form of the Tax Cuts and Jobs Act (TCJA), which is the tax reform bill that placed a new limit on deductions for state and local taxes, including property taxes.  Previously these deductions were unlimited for individuals, though many people who owed the alternative minimum tax lost the benefit of … Read More

Many tax deductions gone but not forgotten Part 2

Earlier this week we looked at how the new tax cuts and jobs of 2017 has changed what is deductible and what is not. Congress also included a significant reduction in mortgage interest as part of the reform package. In 2017, taxpayers could deduct interest on a mortgage of up to $1 million. Starting in 2018, only interest on the … Read More

Many tax deductions gone but not forgotten Part 1

The number nine has special significance to taxpayers in 2018 because that is the number of tax deductions that have been eliminated as result of the sweeping changes made in the Tax Cuts and Jobs Act of 2017 (TCJA).  And the best way to describe it is – a case of give and take. Taxpayers can expect a lot of … Read More

Wedding Gifts from the IRS and the Disappearing Marriage Penalty

It may be rare these days for a prospective husband to ask for permission or a blessing from his future father-in-law to marry his sweetheart, but there’s one additional blessing that may also be on his mind: acquiring the tax blessings bestowed by the Internal Revenue Service. Thanks to the new tax law changes found in the Tax Cuts and … Read More

US Corporation tax rate now lowest in 30 years

For decades, the United States was in the top twenty of the countries paying the highest statutory corporate income tax rates. Last year, American companies had to adhere to a whopping 38.9 percent rate while other developed countries were paying 22 and 25 percent rates. In fact, the only other countries paying 35 percent or more, were the United Arab … Read More

What’s New in the Tax Cuts and Job Act Part 2

Experts say the changes to the tax code for businesses are nothing short of revolutionary: a long-overdue modernization. But it’s important to remember that rate reductions don’t automatically translate into vigorous business growth. While changes wrought by the Tax Cuts and Jobs Act (TCJA) do promote corporate investment incentives, they also vary by investment type and economic sector. Here are a … Read More

What’s New in the Tax Cuts and Job Act Part 1

The Trump administration’s success in pushing through the new tax legislation marks a major achievement of it’s first year. But, according to one source, “the hurried, largely furtive drafting, and rush to passage at the end of 2017, have helped obscure the new tax regime’s real impact.” Focusing on the politics has muddled the sweeping repercussions of the Tax Cuts … Read More

Workplace Wellness -Part 1

As the exploding wellness industry demonstrates, healthy customers are happy customers. And because employees are the “internal customers” of every organization, it stands to reason that workplaces should focus on employee wellness.   Healthy employees contribute to and draw support from a healthy workplace. It’s not just about reducing sick days or absenteeism—although that matters, too. It’s also about fostering … Read More

Owning It!

  “Keeping talented people engaged involves some form of ownership.” –Forbes.com What motivates your employees to “give their best” at work, collaborating with a sense of purpose and passion, instead of just showing up and stewing till quitting time? The traditional answer–straight-up salary increases or equity stake–are rarely feasible in today’s culture of budget constraints, and research shows the temporary … Read More