The good and not-so-good news about qualified improvement property
If you made improvements to your commercial property last year or are planning to this coming year, there’s good news and not-so-good news. The good news is, some of the restrictions for taking the depreciation on those improvements have been eliminated under the 2017 Tax Cuts and Jobs Act. Prior to the new tax law, […]
Pay too little in taxes last year? IRS offers relief for underpayment
Many taxpayers saw a bump in their take-home pay last year as a result of the lower tax rates and increased standard deduction thanks to the Tax Cuts and Jobs Act. That’s the good news. On the other hand, some taxpayers may have had too little tax withheld in 2018, exposing them to potential penalties […]
Tax season begins soon, tax refunds to be issued as normal
‘Tis the season – to file taxes. January 28 is the official start to tax filing season when the IRS will begin processing tax returns for 2018. The IRS also announced that it will pay tax refunds as scheduled even in light of the partial shutdown of the federal government. According the IRS, the agency […]
Calculating QBI deduction can be complex and time-consuming
One of the more beneficial provisions of the 2017 Tax Cuts and Jobs Act for individuals and small business owners is the new qualified business income (QBI) deduction under Section 199A. Eligible taxpayers may be entitled to a deduction of up to 20 percent of QBI, a significant tax savings for owners of sole proprietorships, […]
Nina Daigle, Lindsey Pierce named partners with Antares Group, Inc.
Antares Group, Inc. is pleased to announce that Nina Daigle, CPA, and Lindsey Pierce, CPA, have been promoted to Partner with the firm. Lindsey and Nina have both been with Antares Group, Inc., for nine years and are members of the Business and Tax Advisory Group. “The promotion of Nina and Lindsey to partner marks […]
Be aware of the tax consequences before selling your home
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. Home sale gain exclusion […]
New law boosts Georgia HEART Tax Credit
The tax credit for making a charitable donation to rural hospitals in Georgia just got a significant boost, but you may want to act quickly to take full advantage of the benefits. The Georgia HEART Hospital Program, which came into effect the first of 2017, awards Georgia income tax credits to individual and corporate taxpayers […]
Florida taxpayers eligible for sales tax breaks for donating to scholarship programs
Taxpayers in Florida have some more options this year to donate to scholarship programs and receive a break on their taxes. Florida Sales Tax Credit Scholarship Program: Under legislation that was signed recently by Gov. Rick Scott, those renting or leasing property can receive a 100 percent credit on the sales tax imposed on the […]
New withholding tables reflecting tax reform now available
Many Americans can look forward to seeing an increase in their paychecks next month due to the new tax law, but first employers must update withholding information for employees. The IRS released recently the 2018 withholding tables – formally the 2018 Percentage Method Tables for Income Tax Withholding – and employers must begin using them […]
Year-end planning tips to help lower your tax bill
As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. We have compiled a checklist of actions based on current tax rules that may help you save tax dollars if you act before year-end. […]