June 14, 2017 / by Brett Hess / Tax
The tax consequences of the sale of an investment, as well as your net return, can be affected by a variety of factors. You’re probably focused on factors such as how much you paid for the investment vs. how much you’re selling it for, whether you held the investment long-term (more than one year) and […]
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2018 Q3 tax calendar: Key deadlines for businesses and other employers
June 19, 2018 / by bmc_admin / Tax
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. July […]
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Saving tax on restricted stock awards with the Sec. 83(b) election
June 14, 2018 / by bmc_admin / Small Business, Tax
Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex — subject to ordinary-income, capital gains, employment and other taxes. But if you receive restricted stock awards, you might have a tax-saving opportunity in the form of the Section […]
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Be aware of the tax consequences before selling your home
May 21, 2018 / by Brett Hess / Tax
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. Home sale gain exclusion […]
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2018 Q2 tax calendar: Key deadlines for businesses and other employers
April 3, 2018 / by Brett Hess / Small Business, Tax
Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. April […]
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Home-related tax breaks are valuable on 2017 returns, will be less so for 2018
March 22, 2018 / by Brett Hess / Tax
Home ownership is a key element of the American dream for many, and the U.S. tax code includes many tax breaks that help support this dream. If you own a home, you may be eligible for several valuable breaks when you file your 2017 return. But under the Tax Cuts and Jobs Act, your home-related […]
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A few changes in the 2018 tax bill might encourage some action now.
December 26, 2017 / by Brett Hess / Tax
There are a number of changes in the 2018 tax bill that just passed. We will be sending out more information as we get all of the details over the next few days, weeks and months. However a few of the changes might impact what you do this year. 1.Tools Deduction: If you have traditionally […]
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Pay attention to the details when selling investments
June 14, 2017 / by Brett Hess / Tax
The tax consequences of the sale of an investment, as well as your net return, can be affected by a variety of factors. You’re probably focused on factors such as how much you paid for the investment vs. how much you’re selling it for, whether you held the investment long-term (more than one year) and […]
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Want to save for education? Make 2017 ESA contributions this year.
January 30, 2017 / by Brett Hess / Tax
There are many ways to save for a child’s or grandchild’s education. But one has annual contribution limits, and if you don’t make a 2017 contribution by December 31, the opportunity will be lost forever. We’re talking about Coverdell Education Savings Accounts (ESAs). How ESAs work With an ESA, you contribute money now that the […]
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2017 Q1 tax calendar: Key deadlines for businesses and other employers
January 25, 2017 / by Brett Hess / Small Business, Tax
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January […]
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Deduction for state and local sales tax benefits some, but not all, taxpayers
January 25, 2017 / by Brett Hess / Tax
The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes was made “permanent” a little over a year ago. This break can be valuable to those residing in states with no or low income taxes or who purchase major items, such as […]
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