BEAT THE DEADLINE RUSH! Get Us Your Complete Tax Materials Now....Before It's Too Late! The tax filing deadline for Partnerships, and S Corporations is quickly approaching. Please note that Newburg & Company, LLP is working expediently on the returns for those clients who have already provided the materials to [...]
OVERVIEW Many businesses have expenditures on meals and entertainment (M&E) as a part of normal business operations. Whether it is providing meals to employees, bringing staff and clients to sporting events or impressing prospects for new business, it is often part of the regular work week. Most business owners have the [...]
The Tax Cuts and Jobs Act has doubled the federal gift and estate tax exemption, with inflation-adjustments projected to raise it to $11.18 million for 2018.This means federal estate taxes are a concern for fewer families, at least in the short term. (The doubled exemption expires December 31, 2025.) But [...]
Under the Tax Cuts and Jobs Act (TCJA), individual income tax rates generally go down for 2018 through 2025. But that doesn’t necessarily mean your income tax liability will go down. The TCJA also makes a lot of changes to tax breaks for individuals, reducing or eliminating some while [...]
On December 20, Congress completed passage of the largest federal tax reform law in more than 30 years. Commonly called the “Tax Cuts and Jobs Act” (TCJA), the new law means substantial changes for individual taxpayers. The following is a brief overview of some of the most significant provisions. [...]
Most estate plans focus on what happens after you die. But without arrangements for what will happen in the event you become mentally incapacitated, your plan is incomplete. If an accident, illness or other circumstances render you unable to make financial or health care decisions — and you don’t [...]
Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2018. But one piece of good news for taxpayers who’re already maxing out their contributions is that the 401(k) limit has gone up by $500. The only other limit [...]
Charitable giving can be a powerful tax-saving strategy: Donations to qualified charities are generally fully deductible, and you have complete control over when and how much you give. Here are some important considerations to keep in mind this year to ensure you receive the tax benefits you desire. Delivery [...]
Reconciliation with the House Over the weekend, the Senate passed an extensive overhaul to the U.S. tax code. Both the Senate and House chambers will commence meetings today (Monday) with the objective to finally reconcile and approve a unified piece of legislation to forward to the president for signature. [...]
If you have minor children, arguably the most important estate planning decision you have to make is choosing a guardian for them should the unthinkable occur. It’s critical to put much thought into this decision to ensure your children would be cared for as you wish in such a [...]
