3 Favorable TCJA Changes for Businesses

  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 […]

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Could Medicare Premiums Lower Your Taxes?

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.  […]

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Important Tax Figures for 2019

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 […]

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Guidance on 2019 Withholding Rules

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 […]

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2019 Standard Mileage Rates Released

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 […]

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Federal Tax News

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 […]

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Coping with Construction-Related Tariffs

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 […]

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