Accounting February 28, 2026
Voting Opens for 2026 Readers’ Choice Awards!
Voting in the 2026 Readers’ Choice Awards is now open. Readers can vote for the programs, hardware, services, and other technologies they use and trust.
November 2, 2017
Examining the GOP Tax Reform Proposal
The current graduated seven-bracket structure would be reduced to four rates of 12%, 25%, 35% and 39.6%. The previous plan was based on only three brackets with a top rate of 35% and didn’t specify income amounts. Thus, this new plans preserves the ...
November 2, 2017
2018 Minimum Wage Changes – State-By-State
Twenty-seven states — plus Washington, D.C. — index their minimum wages to rise automatically with the cost of living. More states will index minimum wage increases annually, starting in the following years, like: Minnesota (2018), Michigan (2019) and ...
November 2, 2017
New Tax Reform Plan Cuts Corporate Tax Rate, Eliminates AMT and Estate Tax, Changes Brackets
The plan would also repeal the alternative minimum tax (AMT) and the estate tax, while preserving the current status quo tax deferred treatment of 401(k) and similar accounts.
November 2, 2017
Income Tax Penalties Can Add Up
The amount of the penalty is based on when you file the correct information return or furnish the correct payee statement. The penalty for not filing a correct information return is separate from the penalty for not providing the correct payee statement.
October 30, 2017
Trump Campaign Chair Manafort Indicted on 12 Counts of Tax Fraud, Evasion, Laundering
The indictment in the district court for Washington D.C. states that Manafort laundered more than $18 million to buy luxury gods and services without paying any tax on the income. This enabled the GIP strategist to support a “lavish lifestyle. “
October 4, 2017
Is Your Coffee Taxable? Depends On How You Take It
When researching my favorite beverage for National and International Coffee Days (Sept. 29 and Oct. 1), I discovered that coffee hyped up goats in ninth century Ethiopia and was dubbed a “bitter invention of Satan” by 17th century Christian Italians.
September 27, 2017
Trump Tax Plan Repeals Most Itemized Deductions, AMT, Estate Tax
The new tax plan doesn’t provide much detail on how the tax cuts will be paid for and who exactly will benefit. It also throws some important decisions back into Congress’ lap.
September 14, 2017
Tax Experts Predict Cuts for 2018: Estimated Tax Brackets
Bloomberg BNA opened a window onto next year’s tax planning landscape with the release of its 2018 Projected Tax Rates, a detailed and comprehensive projection of inflation-adjusted tax items based on changes in the consumer price index (CPI), which ...
August 30, 2017
Estate Planning Part III – Bypass Trusts
In the final part of my estate planning series, I would like to tackle more complicated themes that build on the first two parts. The first thing that I would like to discuss in this article is a trust that was once used frequently before portability.
August 30, 2017
Estate Planning Part II – When You’re Not Subject to Estate Tax
Just because you don’t have a taxable estate doesn’t mean that you shouldn’t do estate planning. If you die without an estate plan, then you die testate, meaning your assets will be divided up according to state law. Everyone needs some sort of an ...
August 30, 2017
Estate Planning Part I – Passing Along Your Business to Your Children
Most business owners want the same thing; they want to pass on their business to their kids. Others may want to sell the business, and some just want to give it away. However, all these options have unique tax concerns that must be considered.
August 30, 2017
Don’t Miss Out on IRC §1202 Stock
First of all, to qualify as IRC §1202 Stock, the stock must be in a domestic C-Corporation. The stock cannot be held by an S-Corporation or a limited liability company (LLC). Another caveat is that the corporation may not have more than $50 million in ...