CPAs Driving Success
On Friday last week, the Consolidated Appropriations Act of 2016 was passed through Congress. Shortly after, President Obama signed the bill into law, making a wide range of tax extenders permanent. This legislation makes the Research and Development (R&D) Tax Credit permanent, along with 50 other periodically expiring tax breaks. Some of the tax credits […]
Holiday season encourages charitable giving. If you give a gift to your favorite charity and want to claim it as a tax deduction, consider these tips before you make a donation. 1. Give to qualified charities. Gifts that are given to charities that aren’t qualified cannot be deducted from your taxes. Gifts that are given […]
A recent IRS announcement stated that it will raise the deductible amount from $500 to $2,500 for purchases of tangible property by taxpayers without applicable financial statements. After receiving more than 150 comments advocating that the limit on deductions for purchases of property should be raised to anywhere between $750 and $100,000, the IRS made […]
One in five millennials is already doing it—and anyone with a job is in a position to take the crucial step.
We all know that saving for retirement is necessary and important for a healthy financial future.
It’s no shocker that cashiers, dishwashers and food preparers typically don’t bring home the big bucks. But flight attendents, firefighters and cowboys — whose jobs sound far more glamorous — aren’t doing much better.