Normally when appreciated business assets such as real estate are sold, tax is owed on the appreciation. But there’s a way to defer this tax: a Section 1031 “like kind” exchange. However, the Tax Cuts and Jobs Act (TCJA) reduces…
Keeping track of all the deadlines for government mandated forms, tax payments and other tax-related tasks can be burdensome. Below is a summary of due dates – keep in mind some deadlines have been altered compared to previous years. Contact us if you…
Taxpayers with family coverage under a High Deductible Health Plan (HDHP) who contribute to a Health Savings Plan (HSA) will see relief from a recent IRS ruling which states for 2018 taxpayers with family coverage under a HDHP can use…
The Tax Cuts and Jobs Act (TCJA) imposes a limit on deductions for business interest for taxable years beginning in 2018. The limit, like other aspects of the law, has raised some questions for taxpayers. In response, the IRS has…
As one of the most contentious and potentially confusing issues in the restaurant industry, tipping rules continue to be a moving target with the Department of Labor (DOL) and the restaurant industry. On a recent conference call with National Restaurant…
Tax credits reduce tax liability dollar-for-dollar, potentially making them more valuable than deductions, which reduce only the amount of income subject to tax. Maximizing available credits is especially important now that the Tax Cuts and Jobs Act has reduced or…
Mize Houser & Company P.A., a regional accounting firm with offices in Topeka, Lawrence and Overland Park, Kansas has risen in the ranking of Midwest accounting firms, according to a survey conducted by Accounting Today. Previously ranked 12th in the…
Many businesses hired in 2017, and more are planning to hire in 2018. If you’re among them and your hires include members of a “target group,” you may be eligible for the Work Opportunity tax credit (WOTC). If you made…
