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Blog - The Doty Group, P.S. | Tacoma, WA
During the week of December 3 - 7, the IRS, State Tax agencies, and the Tax Industry observed “National Tax Security Awareness Week” which has been an initiative to provide resources to individuals and businesses in the interest of protecting their tax data and identities ahead of and through the 2019 tax season.
The National Association of Secretaries of State (NASS) Medallion will be awarded to two South Sound businesses today, Thursday, November 29th, 2018. South Sound Business magazine covered the release of the news yesterday.
IRS Tax Reform Tip 2018-182 discusses some of the changes that The Tax Cuts and Jobs Act brought to the child tax credit - a credit intended to help offset the cost of raising children.
Sandra Mills, Supervisor of Litigation and Valuation, has completed the Master of Business Administration program at Western Governors University.
The malware known as Emotet generally poses as specific banks and financial institutions in an effort to trick people into opening infected documents. It has recently been posing as “IRS Online” with a “Tax Accountant Transcript” attachment that is infected.
On November 13, Doty Group Shareholder and Director of Litigation & Valuation, Shelley Adams Drury, CPA, CVA, ABV, CFF led a Webinar hosted by the International Society of Business Appraisers.
Stephanie Walsh, has earned the Senior Professional in Human Resources (SPHR) credential from the HR Certification Institute (HRCI).
Catalin Clarke, CPA has joined The Doty Group as Senior Accountant.
Commonly referred to as the Tax Cuts and Jobs Act, TCJA, the tax reform law passed in 2017 nearly doubled standard deductions and changed several itemized deductions that can be claimed on Schedule A, Itemized Deductions. The following is an overview from the IRS on some of the changes.
Business owners who actively participate in their business have historically been allowed a full deduction for any net business losses incurred during the year. However, the 2017 Tax Cuts and Jobs Act (TCJA) introduced new limitations that could catch some business owners by surprise come tax time.
In the week leading up to Halloween 2018, the firm dressed up for theme days in conjunction with a food drive for Nourish Pierce County.
A new, 10 percent middle-income tax cut is conditionally expected to be advanced in 2019, according to the House’s top tax writer. This timeline, although already largely expected on Capitol Hill, departs sharply from President Donald Trump’s original prediction that the measure would surface by November.
Do you know your business’s monthly break-even point? What is your client/ customer conversion rate? What is the utilization of your staff? How long does it take to bill and collect from clients/ customers? These questions highlight different Key Performance Indicators of which every business owner should be aware.
The Tax Cuts and Jobs Act (TCJA) made some changes to the deductibility of meals & entertainment expenses for the year beginning January 1, 2018. These changes caused some ambiguity over whether certain meals were 50% deductible or nondeductible.
The rehabilitation tax credit offers an incentive for owners to renovate and restore old or historic buildings. Tax reform legislation passed in December 2017 changed when the credit is claimed and provides a transition rule:
A new tax provision contained in the 2017 Tax Cuts and Jobs Act (TCJA) provides a significant opportunity to defer the tax on capital gain from the sale of stock and other assets. Taxpayers who take the gain proceeds and invest them in certain economically distressed communities, known as Qualified Opportunity (QO) Zones, can qualify.
Retirees should do a Paycheck Checkup to make sure they are paying enough tax during the year by using the Withholding Calculator, available on IRS.gov. The Tax Cuts and Jobs Act, enacted in December 2017, changed the way tax is calculated for most taxpayers, including retirees.
South Sound Business magazine recently interviewed the firm and constructed a timeline in a ‘profile'-like feature in their September 2018 issue.
The Tax Cuts and Jobs Act (TCJA), which was signed into law last year, included a major change to the deductibility of business interest expense. Prior to passage of the act, business interest was, generally speaking, 100% deductible except in certain limited situations. The new rules apply to all businesses regardless of form, though there are notable exceptions for small businesses and certain industries.
Beginning April 1, 2019, out-of-state retailers selling above certain thresholds will be required to collect California use taxes on their sales into California. The recent U.S. Supreme Court decision in South Dakota v. Wayfair, Inc. expands the tax collection obligations of certain retailers under California law.