Monthly Bulletins

  The Tax Cuts and Jobs Act (TCJA) contains several provisions that will lower federal income taxes for businesses. Here’s an overview of three pro-business changes.  1. TAX RATE CHANGES The TCJA permanently reduced the corporate federal income tax rate […]

Many businesses will pay less federal income taxes in 2018 and beyond, thanks to the Tax Cuts and Jobs Act (TCJA). And some will spend their tax savings on merging with or acquiring another business. Before you jump on the […]

Health care is a top concern for many Americans, especially people who are age 65 and older. While these individuals qualify for basic Medicare insurance, they may need to pay additional premiums to get the level of coverage they desire.  […]

(Right Click to print)    THE BIPARTISAN BUDGET ACT OF 2015 The Bipartisan Budget Act of 2015 (“ACT”) made significant changes to the Internal Revenue Service’s (“IRS”) partnership audit rules effective for partnership or limited liability company (taxed as a […]

    The Bipartisan Budget Act of 2015 (Click title above for printable form) The Bipartisan Budget Act of 2015 (“ACT”) made significant changes to the Internal Revenue Service’s (“IRS”) partnership audit rules effective for partnership or limited liability company […]

The following table provides some important federal tax information for 2019, as compared with 2018. Many of the dollar amounts are unchanged and some changed only slightly due to inflation. Social Security/ Medicare  2019  2018 Social Security Tax Wage Base […]

When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of the dramatic cut in corporate tax rates. But the TCJA also includes a generous deduction for smaller businesses that operate […]

The IRS announced that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.   The IRS is generally waiving […]

The IRS has provided interim guidance for the 2019 calendar year on income tax withholding from wages and withholding from retirement and annuity distributions. In general, certain 2018 withholding rules provided in Notice 2018-14, I.R.B. 2018-7, 353, will remain in […]

The IRS released the optional standard mileage rates for 2019. Most taxpayers may use these rates to compute deductible costs of operating vehicles for: •business, •medical, and •charitable purposes.   Some members of the military may also use these rates […]

The IRS has launched an “IRSNews” account on Instagram. According to the agency, more than 70% of adults between ages 18 and 24 are active on the social media site. “The IRS plans to use Instagram to better serve this […]

In the current politically charged environment, construction owners must continue to meet financial challenges, including tariffs on products frequently used in their industry.  Notably, tariffs have been imposed on aluminum and steel, among other commodities. What’s more, the situation is […]