Lou Alice's blog

2018 Tax Cuts for Individuals

We are cautious in saying this, but we do believe congress has finally done something that helps the middle class!  The recent tax reforms will have the largest impact on business owners and corporations.  However, having now prepared a number of 2018 tax projections for our individual clients, we are finding that everyone is going to benefit.

Here are four major tax law changes that will make the most impact on the middle class, beginning in 2018:

2018 Tax Cuts for Business

By Lou Alice Funk, CPA, MBA

Much has been said in the media about the new Tax Cuts & Jobs Act, and it is indeed full of changes that will affect all of our clients in differing degrees.   The substantive effects of those changes begin in 2018, so the tax returns we are working on this season will not be greatly affected.  However, we feel that all of our business clients would benefit from a review of the new provisions.

A new way to measure your retirement readiness

Do you know your "power percentage"?  A lot of people measure their financial health by their credit score. But how much does a good credit score matter to a person who is about to retire?  You can't borrow your way through a 25-year retirement.  Check out this article that describes a quick way to measure your personal financial health as it relates to retirement readiness.

 

New Overtime Rules Effective December 1, 2016

Final DOL Overtime Rule Released

12 Sales Tax Tips for Small Business

Sales Tax Compliance seems to be getting even more complicated. Avalara recently released 12 sales tax tips to help small businesses achieve greater success and security. Below is a summary of the article and the full document can be found at www.avalara.com.

1.  Determine if you have created nexus within a state.

 

2.  Check if you are required to file your sales tax return electronically.

 

3.  Find out if you are required to make pre-payments.

 

FICA Taxes are on the Rise for 2013!

It was recently announced that in the year 2013 both Social Security and Medicare taxes are going to be seeing a percentage increase in withholdings. Who will be affected and how much are the increases? Let’s take a closer look.

Tax Benefits for Higher Education

There are a number of deductions and credits available for those who pay for higher education.  If you are paying for college expenses, we would be glad to discuss these options with you to determine which ones will provide the most benefit in your particular situation. 

The following options are discussed in detail below:

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