In early June, Tim and I had the opportunity to attend a two – day conference on farm income tax and estate planning out in Shippensburg, Pennsylvania, which is approximately 30 miles west of Gettysburg. At the forefront of tax…
Are you as keyboard oriented as I am? Do you struggle with having to click a mouse when you are using QuickBooks Online? I know I do. I have found some helpful shortcuts along the way that have helped me…
During tax season, it is important to remember some important tips in regards to your charitable giving. The donation must be in the form of either money or property. It must be made to a qualified organization such as a…
529 plans became popular years and years ago. For many parents (and grandparents/others too!), they’re a great way to save back some tuition money for kids, in preparation for that ever increasing college cost. 529 plans grow tax free, and…
The Internal Revenue Service has released the updated Form W-4 (here) for 2018. Along with the W-4, they have released an updated Withholding Calculator to help taxpayers check their 2018 tax withholding following the Tax Cuts and Jobs Act that was…
Often times I’ll start in working on a personal tax return for a client, and notice that they have a child that is college age. A quick phone call verifies that, indeed, the child is attending college. The parent had…
The Internal Revenue Service has released updates to the income tax withholding tables for 2018 which reflect the changes made by the recent tax reform. Their goal was to design the new withholding tables to work with the Form W-4’s…
For the 2017 tax year the Federal Section 179 depreciation deduction limit is now at $500,000, it is easy to think that any fixed asset classified as personal property can now be expensed. However, in the year of purchase, it…
With tax reform taking place, a big question that is getting asked is “Do I need to be filling out a new W-4 to reflect the changes?” A statement was put out by the IRS stating that they are working…
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…