FUNDAMENTALS– Isn’t it interesting when the sports analyst mentions that an NBA player has amazing fundamentals. Fundamentals are not fun or exciting like Michael Jordan flying through the air, oops meant to say Lebron James. But, fundamentals are extremely important. We receive many phone calls each day from business owners needing accounting/tax assistance. If we […]
Category Archives: Taxes
05
Jan
Jan
2018 Tax Law Changes Please note these changes do not apply for 2017 tax returns! Here are some but not close to all of the 2018 tax law changes: Lower individual tax brackets until 2025 nice….. (see 2018 tax bracket below) Corporate tax rate changes from 35% to 21% That is a HUGE change! Hopefully Corporate America will […]
27
Jul
Jul
I hope so! But, we will just have to wait and see. To reform the health care system is a difficult task in deed and we saw that the recent attempt failed. Many do not realize, but tax reform is even more difficult to reform than health care. I remember one of my college professors, […]
27
Jul
Jul
Often, they are. Credits are dollar-for-dollar reductions in the amount of taxes owed. For example, if your business qualifies for a $12,000 tax credit for expenses incurred to develop a new or improved product or process, the IRS may give your business a credit for having already paid $12,000 in taxes, and that amount is […]