IRS unveils new tool to search for charitable organizations
Are you looking for a worthy local charity or want to make sure your favorite nonprofit is in good standing? The IRS has published a new search tool that is designed to provide easier access to information on tax-exempt organizations. The new Tax Exempt Organization Search (TEOS) replaces the EO Select Check. The new tool […]
The time for 2018 tax planning is now
Now that the April 17 individual income tax filing deadline has come and gone, it may seem too early to begin thinking about taxes again. But for maximum tax savings, now is the time to start tax planning for 2018. It’s especially critical to get an early start this year because the Tax Cuts and […]
Make sure repairs were actually repairs before you deduct the cost
Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance can be immediately expensed and deducted on the current year’s income tax return. But costs incurred to improve tangible […]
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. […]
Public education tax credit offered in Georgia
A new tax credit for donations to public education will be available beginning in January for Georgia taxpayers, but the credit is limited so it’s best to act soon. Beginning Jan. 1, 2018, and running through Dec. 31, 2020, the state of Georgia is offering a nonrefundable Georgia income tax credit for donations specifically to […]
‘Unified Tax Reform’ now takes center stage in Congress
Congressional Republicans and the Trump Administration have unveiled what they are calling a “unified framework” for tax reform. While the specifics will likely change as it makes its way through the congressional process, we wanted you to be aware of some of the provisions that could have a direct impact on you. The tax reform […]
Taxes could complicate a simple overseas business trip
Many of you may travel to foreign countries for both business and personal reasons. Consequently, it is important to be aware of the rules governing what can be deducted with respect to foreign business travel. When traveling outside the United States for business, what can be deducted depends on how much of the trip is dedicated […]