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Beware: Coronavirus may affect financial reporting March 19, 2020 The coronavirus (COVID-19) outbreak — officially a pandemic as of March 11 — has prompted global health concerns. But you also may be worried about how it will affect your business and its financial statements for 2019 and beyond. Close [...]
Employee vs. independent contractor: How should you handle worker classification? June 7, 2019 - Many employers prefer to classify workers as independent contractors to lower costs, even if it means having less control over a worker’s day-to-day activities. But the government is on the lookout for businesses [...]
Why you shouldn't wait to file your 2018 income tax return 2/18/19 The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you [...]
We are Tax Reform Advisors February 6, 2019 The Tax Cuts and Jobs Act (TCJA), passed in December 2017, has been highly advertised as a simplification to the income tax preparation and filing process. In fact, the TCJA is the largest tax overhaul since the 1986 Tax Reform Act and [...]
Catch-up retirement plan contributions can be particularly advantageous post-TCJA November 27, 2018 - Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular [...]
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TCJA changes to employee benefits tax breaks: 4 negatives and a positive May 6, 2018 - The Tax Cuts and Jobs Act (TCJA) includes many changes that affect tax breaks for employee benefits. Among the changes are four negatives and one positive that will impact not only [...]