Standard Deduction1Deduction Single: $12,950 Joint returns & surviving spouses: $25,900 Married filing separately: $12,950 Head of household: $19,400 The standard deduction increases by $1,400 for a married taxpayer aged 65 or older or blind ($2,800 if both 65 and...
The tax law provides a valuable tax-saving opportunity to business owners and real estate investors who want to sell property and acquire similar property at about the same time. This tax break is known as a like-kind or tax-deferred exchange. By following certain...
If there’s one thing guaranteed to drive our cortisol levels straight into the stratosphere, it’s moving to a new place. Yes, people claim it’s that bad, and there’s a ton of research to back it up. So why not make things a little bit easier for your new tenant by...
If you’re going through a divorce, taxes may be the last thing on your mind. But divorce involves many potential tax traps and pitfalls. Here are some things to know. Alimony and child support. Through 2018, alimony is taxable income to the person who receives...
Rents in the United States have been skyrocketing since 2012. This has caused many renters to face a tremendous burden when juggling their housing expenses and the desire to save for a down payment at the same time. The recent stabilization of rental prices provides a...
This coming year the housing market will be defined by 3 things- inventory, interest rates, and appreciation. But the biggest issue the housing market will face in 2020 is an inventory shortage. There aren’t enough homes on the market for buyers, especially on the...
How an in-depth analysis of your business can help you reach your goals. One of the services we offer through our sister company, OneSource Business Solutions LLC, is process called a “Strategic Planning Session”. The Planning Session is an in-depth review of the...
One of the first things Business owners do when deciding to start a business, is find an accountant and an attorney. The business owner usually develops a relationship and sticks with his accountant for years to come. It’s important to have a trusted relationship with...
The potential for a whole new tax era is upon us with the Supreme Court ruling of South Dakota vs. Wayfair, Inc. also known as the “Wayfair Decision”. The 5-4 ruling overturned a previous decision and law that has prevailed since 1992, known as Quill, which...
Small Business Division–Accounting and Payroll Services Is payroll a headache for you? Are you struggling to keep track of your bookkeeping? Do you have an Accountant that you can trust to give you accurate advice? Have you considered the benefits of a tax...