The following is a summary of important tax developments that have occurred in July, August, and September that may affect you, your family, your investments, and your livelihood. Please call Launch Consulting Inc at 512-666-0729 […]
Recent Developments That May Affect Your Tax Situation Read More »
As we approach the end of the year, it’s a good idea to review your business’s expenses for deductibility. At the same time, consider whether your business would benefit from accelerating certain expenses into this
Now’s the time to review your business expenses Read More »
Tax-free fringe benefits help small businesses and their employees.
In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free are especially attractive to employees. Let’s take a quick look at some popular options.
Tax-free fringe benefits help small businesses and their employees Read More »
Does your business reimburse employees’ work-related travel expenses? If you do, you know that it can help you attract and retain employees. If you don’t, you might want to start, because changes under the Tax Cuts and Jobs Act (TCJA) make such reimbursements even more attractive to employees. Travel reimbursements also come with tax benefits, but only if you follow a method that passes muster with the IRS.
Be sure your employee travel expense reimbursements will pass muster with the IRS Read More »
The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The deduction generally applies to income
Close-up on the new QBI deduction’s wage limit Read More »
Meal, vehicle and travel expenses are common deductions for businesses. But if you don’t properly document these expenses, you could find your deductions denied by the IRS. A critical requirement Subject to various rules and
Business deductions for meal, vehicle and travel expenses: Document, document, document Read More »
The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more businesses. Now
Choosing the right accounting method for tax purposes Read More »
For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C corporations. Under prior law, C corporations were taxed at rates
Choosing the best business entity structure post-TCJA Read More »
Two income families and those who work multiple jobs typically end up under-withheld. We recommend using the IRS Withholding Calculator to help navigate the complexities of multiple employer tax situations and to determine if the correct amount
Two-income Families Should Check Withholding Amount Read More »
Changes to the deduction for move-related vehicle expenses The passing of the Tax Cuts and Jobs Act (“TCJA”) suspended the deduction for moving expenses for tax years beginning after Dec. 31, 2017, through Jan. 1,
Law Change Affects Moving, Mileage and Travel Expenses Read More »
As many of you are aware by now, the Tax Cuts and Jobs Act (TCJA) almost doubled the standard deduction for many taxpayers, raising the limits to $12,000 for single filers and $24,000 for married
Three Ways to Maximize Charitable Giving Under the New Tax Code Read More »
