Charitable Contributions From My IRA?
For those who give to 501(c)(3) charities and are 70 1/2 or over there’s a tax saving vehicle available when...
Small Biz to $25 Mil Cash v. Accrual
TCJA expands availability of the cash method to all (except tax shelters), including businesses with inventory, so long as they...
The Savers Credit
The Savers Credit is designed to help recent graduates, career changers, part-timers, small business owners and others with adjusted gross...
Up to 20% Deduction
Up to 20% Deduction. IRS released Final Sec. 199A Regulations late January 2019. Get a summary of changes in Sec....
Tax Cuts and Jobs Act Changes NOL Treatment
Tax Cuts and Jobs Act Changes Net Operating Loss (NOL) Treatment Sole Proprietors and Business Owners of LLCs, Partnerships and...
Keep in Sight on 2018 Tax Returns
Tax Rates are Lower 10%, 12%, 22%, 24%, 32%, 35%, 37% Standard Deduction is Higher $12,000 Single and Married Filing...
Time to Send 1099s
Per IRS if you made or received payments during calendar year 2018 as a business or self-employed individual, you are...
Tax Season to Begin Jan 28th Despite Govt Shutdown
IRS has announced it will begin processing 2018 tax returns January 28, 2019. IRS will process tax returns and also...
WA Paid Family & Medical Leave
Washington State employers begin collecting premiums on January 1, 2019 for the first quarterly report to Employment Security Department due...
Business Meals may be 50% Deductible
Business Meals may be 50% deductible after all, despite TCJA changes. Entertainment, amusement and recreation deductions will be denied according...
Year End Cash Forecasting in Excel
If your business uses Excel spreadsheets for year-end essentials like cash forecasting effective design is critical. Often cash is forecast...
2019 Tax Brackets Announced!
IRS has announced 2019 tax brackets for individuals, estates and trusts. 2019 Married Filing Joint And Surviving Spouses Taxable IncomeToTaxPlus...
2018 Tax Brackets
2018 Married Filing Joint And Surviving Spouses Taxable IncomeToTaxPlus % of Excess 0$19,05010% of Taxable Income $19,051$77,400$1,90512% $77,401$165,000$8,90722% $165,001$315,000$28,17924% $315,001$400,000$64,17932%...
Capturing Tax Credits for Higher Education
It’s looking like Fall in the Pacific Northwest. Are you looking ahead to the first 4 years of college? Two...
QUALIFIED BUSINESS INCOME DEDUCTION
Section 199A provides a deduction for qualified business income from a qualified trade or business operated directly through a pass-through...
Triple Win ER EE Tax Savings
by Jennifer K. Wicklund CPA Upcoming in Q4 is the time for yearend checkups and moving forward with tax saving...
Tax Credit for Paid Family and Medical Leave
Employers who pay employees when they take time off for family and medical purposes may now qualify for a tax...
Come to Browns Point for The Original Salmon Bake This Weekend!
Come to Browns Point this weekend to enjoy the magnificent Pacific Northwest flavors of The Original Salmon Bake! August 4th...
TCJA and Employee Business Expenses
Tax Cuts and Jobs Act (TCJA) eliminates the unreimbursed employee business expenses deduction on individual returns. Employees can no longer...
American Opportunity Credit Helps Employees Gain 4 Year Degrees
Does your organization have employees in their first 4 years of college? The American Opportunity Credit is available to help...
Mortgage Interest and TCJA
Home ownership remains an enduring hallmark of the American Dream. Mortgage interest is an itemized deduction which like many other...
Coverage Protections for Pre-existing Conditions Challenged
Changes affecting healthcare laws may mean loss of coverage for pre-existing conditions. US Attorney General Jeff Sessions sent a letter...
Income Dynamics and TCJA
NOL Carryforward and rarely back, Tax Cuts and Jobs Act. What’s a Deferred Tax Asset to do? Businesses and the...
Full Steam Ahead Education with 529 Plans
Families are in an accelerating climate when it comes to paying for education expenses. Washington State cut tuition prices instead...
Internal Controls in New Business Ventures
New Business Ventures. Capture and control cash flow by designing and implementing internal control systems in new business ventures. Test...
$1 Mil Sec 179 plus 100 Percent Bonus 2018
Section 179 and 168(k) Bonus Depreciation expensing allowances are applicable to many of the same types of assets and both...
Fiscal Year Corps Use Blend Rate, not 21% 2018
Corporations that elect to use a fiscal year end and not a calendar year end for federal income tax purposes...
IRS Modifies HSA for 2018
By Jennifer Wicklund CPA IRS announced a modification of the annual limitation on deductions for contributions to Health Savings Accounts...
CFOs and Tax Reform
How SoundCPA Insights for Business work with CFOs, Boards and other executives to address potential impacts of tax reform this...
Photo Documenting
Sound Accounting & Technology LLC clients often express interest in photographing valuables. This is an excellent idea. In case of...