Mark Wilson/Getty Images The government is seven days into a partial shutdown, and pretty much everyone has thrown up their hands until the new Congress is sworn in after the new year. Democrats are growing increasingly confident that President Donald Trump’s immovable demand for $5 billion for his southern border wall is going to land him… Read More

The traditional year-end tax-planning discussion that CPAs have with their clients has been upended thanks to the Tax Cuts and Jobs Act. “The whole discussion agenda is different now because of the new law,” said Tim Speiss, partner-in-charge of the Personal Wealth Advisors Group at EisnerAmper in New York. “As someone that’s been a CPA… Read More

The use of the limited liability company (LLC) has mushroomed in popularity over the past two decades. IRS statistics show a 66% increase in domestic LLCs between 2005 and 2014, and in 2004 LLCs were already popular entities. The core reasons for their attractiveness for a wide range of business purposes are well-known: chiefly, passthrough tax… Read More

When you file your taxes in 2019, you might notice significant changes due to the Tax Cuts and Jobs Act. It’s important to understand how you might benefit from these updated modifications to the tax law. It’s important to understand how you might benefit from these updated modifications to the tax law. Let’s take a… Read More

There are four reasons why this mistake is such a big one. Tax season is a time many Americans look forward to. While no one likes doing the paperwork associated with income taxes, many filers are excited to get a big check from the IRS. And receiving a refund check is extremely common. In fact,… Read More

KPMG sees priorities for audit committee agendas next year   Hiring shortfalls and disruptive technologies will be among the main topics of discussion within audit committees and boardrooms next year, according to a pair of new reports from KPMG. KPMG’s Board Leadership Center foresees the need to develop new talent not only in the executive… Read More

5 Useful Accounting Tips for Small Businesses When running a small business, you have to make sure you stay focused on accounting. If you don’t manage debt, receivables, and marketing expenses accurately, your company will sink before it grows. You can save your company by implementing simple bookkeeping strategies. Here are five accounting tips to… Read More

If you were hoarding receipts in a shoebox with the hope of claiming a big break on your 2018 taxes, prepare to be disappointed. That’s because the Tax Cuts and Jobs Act placed steep limits on itemized deductions, including lesser-known breaks for the fees you pay your tax preparer and unreimbursed employee business expenses. The… Read More

Here are the new tax brackets for 2019 The Internal Revenue Service recently issued the finalized tax brackets for the 2019 tax season, after adjusting rates to account for inflation. The Trump administration passed the Tax Cuts and Jobs Act at the end of 2017, which enacted a number of reforms to the U.S. tax… Read More

As divorcees decide who gets the house and how to split their assets, they should remember to address this key bargaining chip: Who gets to claim “head of household” on their taxes? Though this tax-filing status can be beneficial to the newly single, it’s also one of the most difficult to qualify for, due to… Read More