2017 Tax Cuts Act: What it Means For Businesses

2017 Tax Cuts Act: What it Means For Businesses

For businesses, tax benefits include a reduction in the corporate tax rate, increase in the bonus depreciation allowance, an enhancement to the Code Sec. 179 expense and repeal of the alternative minimum tax. Owners of partnerships, S corporations, and sole proprietorships are allowed a temporary deduction as a percentage of qualified income of pass-through entities,

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2017 Tax Cuts Act: Impact on Families

2017 Tax Cuts Act: Impact on Families

Under the Tax Cuts and Jobs Act, personal exemptions are repealed ($4,050 in 2017) for 2018 through 2025.   The Tax Cuts and Jobs Act provides for a near doubling of the standard deduction. For tax year 2018, it increases the standard deduction from $13,000 to $24,000 for married individuals filing a joint return; $9,550 to

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7 Tax Tips for Family-Owned Businesses

7 Tax Tips for Family-Owned Businesses

According to the U.S. Bureau of the Census, about 90% of American businesses are family-owned. These businesses employ about half of the workforce in the United States. Furthermore, family-owned businesses account for 64% of the nation’s gross domestic product. If you are the owner of a family business, then you can be proud that your hard

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9 Highlights of the New Tax Law

9 Highlights of the New Tax Law

9 Highlights of the New Tax Law The long debated and anticipated GOP tax bill, officially known as the Tax Cuts and Jobs Act, was signed into law on December 22, 2017. This is the largest change to the tax code Americans have seen in three decades. That’s why the big question on everyone’s mind

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What You Need to Know About Cryptocurrency and Its Future

What You Need to Know About Cryptocurrency and Its Future

Bitcoin, Ethereum, Monero—these are just a few names of the more than 1,000 types of cryptocurrencies in existence today. But what is cryptocurrency? Is it just a lot of hype? Or does it really represent the beginning of the end of paper money? As experts in financial planning and accounting we wanted to tell you what cryptocurrency is and where it might be headed in the future.

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9 Bad Bookkeeping Habits to Break in 2018

9 Bad Bookkeeping Habits to Break in 2018

9 Bad Bookkeeping Habits to Break in 2018 It’s the start of a new year. If you’re a business owner, then now is the perfect time to get your bookkeeping in order. Admittedly, keeping the books straight isn’t the most glamorous aspect of any business. But is it essential? Absolutely! Bad bookkeeping introduces confusion and

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Should You Buy or Lease Equipment for Your Business?

Should You Buy or Lease Equipment for Your Business?

Every kind of business will eventually need new equipment, whether that’s factory machines, furniture, vehicles, or copiers. Whatever your organization needs, you’ll be faced with the choice of buying or leasing your equipment. As Certified Public Accountants, we wanted to share with you the benefits of each of these financing options, the potential pitfalls, and

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Why Should You Plan for Retirement?

Why Should You Plan for Retirement?

Once upon a time, retirement was a lot simpler than it is today. People lived off of social security benefits, personal savings, and a pension from their employer. But today, the retirement landscape is much more complex, and uncertain. As Certified Public Accountants, we wanted to explain why now, more than ever, it’s imperative to proactively plan for your retirement goals.

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5 Steps to Getting a Small-Business Loan

5 Steps to Getting a Small-Business Loan

As experts in accounting for small businesses, we understand that the application and approval process for obtaining a small-business loan can be overwhelming. To help make things easier, we’re sharing these 5 steps to obtaining a business loan.

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The Important Difference between Profits and Profitability

The Important Difference between Profits and Profitability

The Important Difference between Profits and Profitability Every business owner wants to increase profits. And no matter what type of business you’re in, there are only two ways to do that. You can either a) generate more revenue through sales, or b) reduce expenses. Ideally, you want to implement strategies that will accomplish both goals.

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6 Steps to Start Saving for Your Child’s Education

6 Steps to Start Saving for Your Child’s Education

6 Steps to Start Saving for Your Child’s Education If you’re the parent of a newborn or young child, then saving for her college education is probably one of your top priorities. But it can also be daunting. The cost of college tuition right now is astronomical and it’s only going to rise. What’s the

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5 Reasons Your Healthcare Organization Should Outsource Accounting

5 Reasons Your Healthcare Organization Should Outsource Accounting

5 Reasons Your Healthcare Organization Should Outsource Accounting Statistics show that healthcare providers around the world have been outsourcing the non-medical aspects of their operations at an increasing rate. Hospitals, surgery centers, and even small family practices have found that relying on professional third-party vendors to handle services like Information Technology (IT), records...

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