Author Archives: Cordasco
2019 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to … Continue reading
Tax reform expands availability of cash accounting
Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Newly … Continue reading
Potential Refund for Taxpayers with 2016 Hurricane Losses!
We have been hard at work since the passage of the Tax Cuts and Jobs Act on December 22, 2017. Since we are a boutique CPA firm focused on understanding the intricacies of the ever changing tax environment, we have spent … Continue reading
WINNERS & LOSERS OF TAX REFORM
There has been a lot written since the Tax Cuts and Jobs Act a.k.a. “Tax Reform” was signed into law on December 22, 2017. As a proverbial tax geek, I have seen and heard a lot of information that just … Continue reading
Can a PTO contribution arrangement help your employees and your business?
As the year winds to a close, most businesses see employees taking a lot of vacation time. After all, it’s the holiday season, and workers want to enjoy it. Some businesses, however, find themselves particularly short-staffed in December because they … Continue reading
When holiday gifts and parties are deductible or taxable
The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s a good idea to find … Continue reading
The tax deduction ins and outs of donating artwork to charity
If you’re charitably inclined and you collect art, appreciated artwork can make one of the best charitable gifts from a tax perspective. In general, donating appreciated property is doubly beneficial because you can both enjoy a valuable tax deduction and … Continue reading
Donate appreciated stock for twice the tax benefits
A tried-and-true year end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you … Continue reading
Mutual funds: Handle with care at year end
As we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips. Avoid surprise capital gains Unlike with stocks, … Continue reading
Could “bunching” medical expenses into 2018 save you tax?
Some of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you may be able to time controllable medical expenses to your … Continue reading
