Changes to Meals & Entertainment Costs from the Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act (TCJA) of 2017 changed the amount of businesses-related meals and entertainment costs that could be deductible on your business tax returns. Under prior law, businesses could generally deduct 50% of meals and entertainment expenses, unless a specific exception applied in wh.....
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How to Protect Yourself from Tax Scams
Thousands of people have lost millions of dollars and their personal information to tax scams. Be aware and stay alert of tax scams; they take many shapes and forms, such as phone calls, letters, and email.  Here’s what you should do if you encounter one of these common scams: Phone Scams: Cri.....
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Will I still itemize in 2018? (And other tax changes for individuals)
By: Bruce Ruotsala, CPA, Senior Staff Accountant The Tax Cuts and Jobs Act (TCJA) is the first meaningful tax reform legislation in decades. It had become standard practice to expect the tax structure to essentially remain unchanged from year to year, with only minor changes along the margins. It.....
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Tips for Performing Your Year-End Physical Inventory
By: Hannah Hebsch, Staff Accountant For many businesses, inventory is one of the largest assets on the balance sheet and one of the most important parts of its operations. Maintaining accurate inventory counts is essential to ensure that inventory is being properly reported in the financial state.....
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Top 5 Personal Wealth Questions to Ask Your Accountant
By: Bruce Ruotsala, CPA, Senior Staff Accountant Most individuals think that when it comes to personal wealth, a financial advisor is enough. Although a financial advisor will assist with money management and reaching your financial goals, you should also consult your accountant. In an ever chang.....
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