Tax

Business Tax – Digging into the Changes!

The big news for businesses is the reduction in corporate income tax rates.  C Corporations previously were subject to graduated rates starting at 15%, rapidly increasing to 35%.  Under the Tax Cuts and Jobs Act, signed into law December 22, 2017 the new corporate tax rate is a flat 21%. The depreciation rules have [...]

By | 2018-08-06T17:28:25+00:00 January 19th, 2018|Tax|Comments Off on Business Tax – Digging into the Changes!

What the Tax Cuts and Jobs Act Means to Individuals

  After reviewing changes that will affect individuals, I have to say that this plan, despite a few downsides, looks very good in general!  The tax bracket changes are significant, especially to higher earners. Here are highlights on how you may personally be affected by the Tax Cuts and Jobs Act (TCJA) signed into law [...]

By | 2018-08-06T17:28:25+00:00 January 3rd, 2018|Tax|Comments Off on What the Tax Cuts and Jobs Act Means to Individuals

Inventory Directly Affects Your Profit and the Tax You Pay

    Inventory directly relates to the tax you pay. Though it's important to manage inventory throughout the year, this is especially true at year end. Too much inventory sitting on your shelves, translates directly to higher profit and increased tax. In my role as CPA and financial advisor to practice owners, I educate my [...]

By | 2018-08-06T17:28:25+00:00 November 28th, 2017|Tax|Comments Off on Inventory Directly Affects Your Profit and the Tax You Pay