With the end of the year quickly approaching, it’s time to plan how you will limit your personal tax liability for 2019. You will want to be sure your year-end …
ASC 842: What’s so tricky about the new lease accounting standard?
At first glance, the lease accounting standard (ASC 842) seems relatively simple: Just add an asset and a liability to the balance sheet. The two accounts would offset, so no …
How to Use IRA Checkwriting in Retirement to Save on Taxes
For more than four decades, the individual retirement account (IRA) has been the go-to savings vehicle for retirement savers who are looking for a current tax deduction and tax-deferred earnings. …
What does the new lease accounting standard mean for your business?
When the new lease accounting standard, Accounting Standards Codification (ASC) 842, is implemented, all leases will have to be reported on the balance sheet. A ‘right of use’ asset and …
Everything you need to know about the Taxpayer First Act
As of July 1, 2019, the Internal Revenue Service has been put on notice. The Taxpayer First Act has been passed by Congress with bipartisan support, and signed into law …
IRMAA: The Hidden Medicare Tax
What is IRMAA? IRMAA stands for Income-Related Monthly Adjustment Amount. Many of us pay premiums for Medicare Parts B and D just like any health insurance. But high income enrollees …
