Heyler agent Kate Kennedy joins Jae Wu on Friday Facebook Live! They'll chat with Gumbiner Savett shareholder, Karla Chavez Luna, CPA, MST, about preparing for tax season and how homebuyers can benefit from working with a CPA before starting a home search. Watch it on Facebook Live - Friday, February 19th at 10 am!
On September 13, the House Ways and Means Committee passed three separate bills that will be the cornerstone of what is being referred to as Tax Reform 2.0. The bills focus on making permanent certain provisions of the Tax Cuts and Jobs Act (TCJA) that affect individuals, families, and small businesses. They also promote family [...]
Do 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, tax reform affects rental property owners- owners will enjoy lower ordinary income tax rates and other favorable changes to the tax brackets for 2018 through [...]
Have you been lucky at the track, or won a nice raffle prize? Did your numbers hit in the lottery? Or maybe you had a really good night at bingo or the casinos in Las Vegas this summer? While congratulations may be in order, we have a bit of bad news. Whether you are a [...]
One way to attract and retain valuable employees is to offer the best compensation package possible. An important part of any compensation package is fringe benefits, especially those that are tax-free to your employees. One of the most important fringe benefits is health insurance. Disability, life, and long-term care insurance can also be important in [...]
When it’s time for a new business vehicle, you may be considering trading in your old one. But is that the right move for you? If you own your business vehicle, you may benefit from selling outright, instead of trading it toward your new purchase. Although a vehicle can lose value fairly quickly, tax rules [...]
The IRS has released Announcement 2016-25 related to the Porter Ranch gas leak at the Aliso Canyon natural gas storage facility. The announcement declares that the IRS will not assess tax on reimbursements paid to, or on behalf of, the residents of affected area. The leak affected an entire community, causing widespread health issues and [...]
The U.S. Department of Labor (DOL) has made dramatic changes to the determination of which executive, administrative and professional employees — otherwise known as “white-collar workers” — are entitled to overtime pay under the Fair Labor Standards Act (FLSA). The new rules will make it more difficult for employers to classify employees as exempt from [...]
With proper planning, collectors can enhance the financial benefits of their art collection. If you are a serious art collector, you should be aware of the numerous tax issues related to the ownership and transfer of art and collectibles. Following is a discussion of some of the more relevant tax issues and related tax planning [...]
When you file your taxes, you have options on how to receive your refund. The IRS recommends that the best way to get it is by direct deposit. Eight out of 10 taxpayers get their refunds by direct deposit. Here are six good reasons why you should do the same in 2016: Direct Deposit: Fast. [...]
