Scammers Never Sleep! Beware the IRS 2019 “Dirty Dozen!” Scammers are hard at work making tax season difficult for preparers and taxpayers alike. These common scams have peaked during filing season – not just individuals, but businesses also should be forewarned and forearmed! It may look like a duck, walk like a duck, and quack...
UNRAVELING THE RIDDLE OF THE ROTH Does your employer's 401(k) plan offer poor investment choices, charge high fees, and no match to your contributions? Consider opening an IRA instead. You can choose either traditional or Roth, depending on whether you want to pay taxes now or later. A traditional IRA is best if you believe...
Your Tax Return - Save it or spend it? That is the question! According to the IRS, tax refunds are up 0.7% from last year, and the average tax return this year is $3,068, compared to $3,046 in 2018. This may seem like cause for celebration, but that money was yours to begin with. You...
R&D Credits Not Just for Folks in White Lab Coats If your business conducts research and development it may be eligible for tax breaks to reduce the financial cost of your R&D activities. Whether you are creating new products or improving others, these tax breaks can be significant. Any company that designs, develops, or improves...
Bonus Depreciation Now Carries A Bonus For Used Property Bonus depreciation has had its ups and downs in the legislature. Just when you thought you had it all figured out, the depreciation percentage was modified to 100% and the definition of qualified property now includes “used” property! For now proposed guidance seems to appear to...
