When you got married, you knew it was for “better or worse.” But you might not know about laws that hold you responsible if your spouse cheats on a tax return. Married couples filing jointly should be aware that: You are both responsible for tax, interest and penalties — even after a divorce or the death...
keep readingIf rising health care costs have sent your company searching for ways to reduce expenses, you should know there are alternatives to standard medical insurance plans. Your choices are not limited to either paying the higher costs yourself or transferring the burden to your employees. Tax-advantaged strategies are available which can mitigate the effect of rising...
keep readingThe IRS recently announced that in many cases, taxpayers can continue to deduct interest paid on home equity loans. The tax agency issued the clarification because there were questions and concerns that such expenses were no longer deductible under the Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, 2017. Background...
keep readingDo you own residential or commercial rental real estate? The Tax Cuts and Jobs Act (TCJA) brings several important changes that owners of rental properties should understand. In general, rental property owners will enjoy lower ordinary income tax rates and other favorable changes to the tax brackets for 2018 through 2025. In addition, the new tax law...
keep readingGT Partners and Managers growing (fill in the blank) together! Fill in the blank with: Professionally Personally Successfully Our firm Mature Old However you fill in the blank, it has been a shining example of people staying together for a common cause…to serve our clients and their particular industries, area of business. It is hard...
keep readingWhich “Grinch” visited our coop clients this year? The one whose heart grows 3 times? Or the one who stole all the presents? Well, the answer is it will vary! The effects of the new tax law changes are still being contemplated (and debated) and you are likely getting inundated with information from many sources....
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