COVID-19 Update

We are continuing to monitor closely the ongoing Coronavirus outbreak. Our priority is to protect the health of our personnel, their families and their communities, while continuing to provide exceptional client service with limited disruption. In light of the recommendations to reduce exposure wherever possible, we will eliminate both non-essential third-party access to our office […]

Kiddie tax: New hazards, new opportunities

Despite its name, the “kiddie tax” is far from child’s play. And a change made by the Tax Cuts and Jobs Act (TCJA) puts some adult teeth into the tax. Now, children with unearned income may find themselves in a tax bracket higher than that of their parents. At the same time, the TCJA creates […]

The TCJA limit on interest expense deductions

Does it affect your business? The Tax Cuts and Jobs Act (TCJA) introduced a variety of tax benefits for businesses. Among other things, it slashed corporate income tax rates, temporarily reduced individual rates and established a new 20% deduction for certain pass-through income. At the same time, the act placed limits on several tax breaks, […]

Is Someone Stealing from my Business?

– Reasons to Outsource Accounting – A 2018 survey conducted by the Association of Certified Fraud Examiners found that internal control weaknesses were responsible for nearly half of frauds.  Small organizations (less than 100 employees) experienced the greatest percentage of fraud and suffered the largest median loss when compared to larger organizations.  This could be due to […]

Do you need to file gift tax returns?

Avoid these common mistakes For 2019, the lifetime gift and estate tax exemption has reached a whopping $11.40 million ($22.80 million for married couples). As a result, few people will be subject to federal gift taxes. If your wealth is well within the exemption amount, does that mean there’s no need to file gift tax […]