Virtually everyone has a credit and debit card these days. But many of us still live in fear of these plastic necessities because we’re not terribly familiar with the fine print of the arrangements under which they operate. Let’s get to know them a bit better. Credit Cards If you credit card is used [...]
The Tax Cuts and Jobs Act (TCJA), signed into law this past December, affects more than just income taxes. It’s brought great changes to estate planning and, in doing so, bolstered the potential value of dynasty trusts. Exemption Changes Let’s start with the TCJA. It doesn’t repeal the estate tax, as had been discussed before [...]
We’ll be continuing the two-part series we started last month. Last month, we learned about getting QuickBooks ready for time-tracking by activating it in Preferences. We also created a record for a service item. This month, we’ll actually use that record in the two ways you’ll be using it in QuickBooks: to pay employees for [...]
A growing number of businesses have been victimized by W-2 phishing scams. In a traditional phishing scam, a criminal tricks someone into providing confidential information and then uses it to steal money and/or the victim’s identity. The W-2 phishing scam is a variation on this. Whether you’re a business owner, work in a management or [...]
Every company needs to upgrade its assets once in a while, whether desks and chairs or a huge piece of complex machinery. But before you go shopping this year, be sure to brush up on the enhanced bonus depreciation tax breaks created under the Tax Cuts and Jobs Act (TCJA) passed last year. Old Law [...]
Personal tax exemptions and the standard deduction have looked largely the same for quite some time. But, in light of the Tax Cuts and Jobs Act (TCJA) passed last year, many individual taxpayers may find themselves confused by the changing face of these tax-planning elements. Here are some clarifications. For 2017, taxpayers can claim a [...]