IRA charitable donations are an alternative to taxable required distributions
Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older, and don’t need the money from required minimum distributions, you may benefit by giving these amounts to charity. IRA distribution basics A popular way to transfer IRA assets to charity is through a tax provision […]
Using credit cards for food, paper costs does not add up
Purchases of food and paper is a significant and ongoing expense for restaurant owners, so it is natural that McDonald’s owner/operators would be looking for alternative ways to pay for the product without compromising cash flow. American Express offers a program that at first glance would appear to offer some valuable perks. For instance, it […]
Thinking long-term about health care
Our medical needs don’t get any easier as we get older, so it is increasingly important that we take advantage of the options that are available. Fall is when open enrollment season begins for health insurance coverage, but retirees and aging Americans also can take advantage of open enrollment for Medicare plans. The open enrollment […]
Rental real estate requires reporting for QBI deduction
There is a significant tax deduction available for owners of rental property, but you will have to get started now organizing your records to claim the savings on your 2019 taxes. The new qualified business income deduction that was created as part of the Tax Cuts and Jobs Act can be a great tax-saving tool […]
Antares Group is ‘top partner’ with Sage Intacct and AICPA
Many accounting firms will talk about technology, but Antares Group is a proven leader with the premier cloud accounting software industry. Because of our firm’s leadership role in the industry, Frank McLaughlin, a partner with Antares Group, will speak alongside representatives from global firms, describing how Antares Group has achieved such a high level of success […]
IRS impersonation scam gains momentum
With the deadline for filing extended tax returns having just passed, taxpayers need to be extra cautious about emails that appear to come from the IRS. The IRS recently announced that there has been a spike in an IRS impersonation scam. Targets of the scam have reported receiving emails from what looks like a legitimate […]
Creating a new employee retirement plan could mean a tax credit
If you have been considering creating a retirement plan for your employees, you should know about a valuable tax credit that is available. Employers may be able to claim a tax credit for some of the ordinary and necessary costs of starting a SEP, SIMPLE IRA or qualified retirement plan. The tax credit is 50 […]
Education tax credits can help with rising cost of college
A new school year has begun, which makes it a good time to think about how you may be able to save some money by taking advantage of some available tax credits. It’s no secret that cost of higher education is climbing ever higher. According to the College Board, the average cost of tuition and […]
The tax implications of being a winner
They say you can’t win if you don’t play. Remember, though, if you do win, you will pay – taxes, that is. Winning at gambling Whether you win at the casino, a bingo hall, or elsewhere, you must report 100 percent of your winnings as taxable income. They’re reported on the “Other income” line on […]
Mark your calendars for these key tax deadlines
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. October […]