Small firms thrive with accounting partners

A Small construction companies, accounting partners, construction accounting specialists, accountants who know construction industry

Small construction companies or sub-contractors in the construction services industry have many financial challenges to consider when running their day to day operations. Key to ensuring prosperity, success and stability in the industry is preparation and sound management. The best way to simplify management and assure accuracy and accountability is to hire an experienced accounting services firm or CPA. The … Read More

Construction Accounting is more than than you think. 

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The foundation for building a profitable construction business may begin with purchasing quality equipment and tools and hiring experienced people to handle the business, but most owners know that whatever segment of the construction business you are in, it is vital to know how to navigate the fundamentals of good accounting practices, state and local compliance, taxes, reporting and much … Read More

Capital gains tax unchanged and new tax rates take center stage

taxes, new tax & jobs act

Reforms under the 2018 tax bill have created significant changes for individual and business owners alike. But, happily, the new law makes few changes to investment income taxes. In fact, dividends and capital gains will stay where they were in 2017. For capital gains and qualified dividends, that means a maximum tax rate of 15% for taxpayers in the lower … Read More

Clarifying the changes to the Child Tax Credit for 2018

tax accounting, tax accountant, tax accountant near me

Titanic shifts in the United States tax code continue to rock American taxpayers. Under the Tax Cuts & Jobs Act of 2017 (TCJA) if you are a divorced parent, separated spouses or an unmarried parent, you may now be unable to fight over their children’s dependency exemptions in 2018 because lawmakers have eliminated the exemption.In 2017, the U.S. Congress passed … Read More

You’ll get more money back with the Child Tax Credit

new tax cuts and jobs act

While many aspects of the current tax reform bill are controversial, one of the most talked about part of the Tax Cut & Jobs Act also know as the Trump tax breaks 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 … Read More

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

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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

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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

The Disappearing Marriage Penalty,new tax cuts and jobs act 2017

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

happy business

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 … Read More

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

New Tax Law passed by Congress

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

wellness in business, performance in business,

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 a … Read More

Owning It!

Accounting solutions, Accounting as business consultant,

  “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