Switching Gears
After the rush of the individual tax season and plenty of work left to be done; now is the time to start switching gears towards thinking about 2018 fiscal year ends, pass-through entities and some of the big changes that…
Morgan Zimbelman, EA
Morgan graduated in 2013 with a bachelor's degree in Accounting from the University of Northern Iowa. She attained her EA (Enrolled Agent) certification in 2016. As an EA with 10+ years of experience, she spends the majority of her time on corporate and individual tax returns, incorporations, and bookkeeping. Morgan is also a certified QuickBooks® ProAdvisor.
HSA Amounts Increase for 2020
For 2020, the annual contribution limit is $3,550 for self-only coverage (up from $3,500 in 2019) and $7,100 for family coverage (up from $7,000 in 2019). If you are 55 or older by the end of the year, there is…
*Ring*, *Ring* … The IRS is Calling
Tax scams have caused thousands of people to lose millions of dollars along with stolen personal information. As scammers evolve and find new creative ways to trick people into giving them personal information or to send them money; it’s important…
Alert!! Tax season on the Horizon!!
As the new year is upon us it is time to start thinking about taxes. It is time to organize and gather documents as they come in the mail. Gathering information for your tax preparer may seem overwhelming, but staying…
Increased Standard Mileage Rates for 2019
Beginning January 1, 2019 the standard mileage rates will be: 58 cents per mile for business miles driven (up from 54.5 cents in 2018) 20 cents per mile for medical or moving purposes (up from 18 cents in 2018) 14…
Per Diem Rate for Truckers
Notice 2018-77 just released the new 2018-2019 special per diem rates for those in the transportation industry. The new meal and incidental expenses (M&IE) rates for truckers is $66 per day. This is up from 2017 where the rate was…
A Taste of Taxes in Texas
In June, I had the opportunity to attend a three-day conference hosted by the National Restaurant Association for financial officers and tax executives in San Antonio, Texas. The first day of the conference focused on the restaurant industries trends and…
Standard Mileage Rate Increases for 2018
Beginning January 1, 2018 the standard mileage rates will be: 54.5 cents per mile for business miles driven (up from 53.5 cents per mile in 2017) 18 cents per mile for medical or moving purposes (up from 17 cents per…
How Do I Start A Business?
So you’ve done your research, you have your business plan and finances figured out. What’s the next step in starting your own business? Next up is choosing a business entity. You have several options to choose from and they include:…
Health Savings Account Limits Increase for 2018
For 2018, the annual limit on deductible contributions is $3,450 for self-only coverage (up from $3,400 in 2017) and $6,900 for family coverage (up from $6,750 in 2017). There is an additional HSA catch-up contribution if age 55 or older…