Accounting Newsletter Articles

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  Tax Considerations When Delaying Social Security

  The timing of when you take your Social Security can have a potentially significant impact on your overall tax strategy during retirement. While each person’s case is unique, delaying Social Security often tends to be the best move. Generally, delaying Social Security gives you a better ability to manage tax brackets when you are no … Read More >

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  Noteworthy Tax Changes for the New Year

  The tax extender bill has passed and been signed by the president, giving individuals and businesses resolution on many items that were set to expire. Unlike earlier tax extender bills, a number of provisions have been made permanent or extended for a number of years – giving a measure of certainty. Below is a summary … Read More >

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  Make Your Moves Now for 2015 Year-End Tax Planning

  The end of the year is approaching and now is the time to take action to lower your tax bill. Here are four moves you can make now so you can have a smile on your face when you do your 2015 tax return next year. Reap What the Market Sowed Selling stocks or mutual … Read More >

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  Outside the Gift Box, Year-End Giving Strategies

  As we approach the end of the year, it’s a good time to consider making holiday charitable gifts – which might come in handy during tax season. In addition to the usual year-end strategies, you might look a bit outside the gift box for donation ideas. For example, approximately $16 billion dollars’ worth of credit … Read More >

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  IRS Raises Tangible Property Expensing Threshold

  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 … Read More >

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  Tip: Year-End Technology Purchases May Lower Your Tax Bill

  Before year’s end, make sure you take advantage of tax deductions that are intended specifically to help reduce technology costs for small- and mid-sized businesses. Section 179 of the tax code allows business owners to write off the cost of new or used computer equipment and off-the-shelf software purchased for their businesses. The current deduction … Read More >

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  Technology: Ready or Not, Microchip Card Payment is Here to Stay

  If you travel internationally for business or pleasure, you may already know that magnetic strip credit cards are considered something of an anachronism in many other countries. Offering a magnetic strip card when making a purchase in Europe or Canada frequently requires the business owner to take your card and input the data manually, or … Read More >

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  Smarter Charitable Giving

  Many donors who give substantial sums regularly or on occasion often make the same mistake – not having a plan. Donor-advised funds offer a great way to give with a plan. Donor-advised funds are charitable giving vehicles administered by a public charity. They are created to manage charitable donations on behalf of organizations, families or … Read More >

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  Employee Background Check Tips

  Performing due diligence is the cornerstone of any business decision, including who to hire. When hiring an employee or an independent contractor, running a background check – which may include a criminal background check, work and educational history, among other components – can help ensure your next hire will be a good fit. But what … Read More >

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  Retiree Healthcare Plans

  According to the Employee Benefits Research Institute, spouses retiring in 2014 who take prescription drugs and want a 90 percent chance of having enough money for medical expenses throughout retirement needed an extra $326,000 in savings to pay for it. Unfortunately, just as rich pension plans have fallen by the wayside, employer-sponsored retiree healthcare benefits … Read More >