by LeAnne Perkowski | Nov 17, 2018 | Melinda's blog
From Melinda May, CPA | Featherstone Under the TCJA, equipment expensing permitted by Section 179 of the tax code was expanded. In 2018, your business can take a first-year deduction of up to $1 million worth of equipment purchases. You might buy, say, $400,000 worth...
by LeAnne Perkowski | Nov 12, 2018 | Melinda's blog
From Melinda May, CPA | Featherstone More taxpayers are likely to take the standard deduction for 2018, rather than claim itemized deductions. Therefore, they’ll lose the tax benefits from their charitable contributions. Example 1: Art and Beth Dean are in their 40s...
by LeAnne Perkowski | Nov 5, 2018 | Melinda's blog
From Melinda May, CPA | Featherstone Under the new, as well as prior, tax law, taxpayers can either take a standard deduction or itemize deductions on Schedule A of IRS Form 1040. Typically, tax preparation involves comparing the total of itemized deductions with the...
by LeAnne Perkowski | Nov 1, 2018 | Melinda's blog
From Melinda May, CPA | Featherstone The Tax Cuts and Jobs Act of 2017 (TCJA), passed at the end of last year, generally took effect in 2018. Therefore, the fourth quarter of this year provides the first real opportunity for year-end planning under what has been...
by LeAnne Perkowski | Oct 29, 2018 | Melinda's blog
From Melinda May, CPA | Featherstone Employers. Ask employees whose withholding allowances will be different in 2019 to fill out a new Form W-4 or Form W-4(SP). The 2019 revision of Form W-4 will be available by mid-December at www.IRS.gov/FormW4. November 13...
by LeAnne Perkowski | Oct 25, 2018 | Melinda's blog
From Melinda May, CPA | Featherstone Investors often use tax-exempt municipal bonds for their bond ladders. If so, the bond ladder should be held in a regular taxable account to take advantage of the tax break. Bonds issued within the buyer’s state of residence often...
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