I just lost my home and now you say I owe tax!?

By : October 30, 2018 Comments Off on I just lost my home and now you say I owe tax!?

By Marc Pounds, CPA Pisenti & Brinker Sadly, this is the message many tax advisors may be communicating to their clients in the aftermath of one of the most devastating wildfires in Northern California history. Fortunately, there are a number

Read more

2018-2019 Tax Planning Guide

By : September 28, 2018 Comments Off on 2018-2019 Tax Planning Guide

It’s a new day for tax planning. On December 22, 2017, the most sweeping tax legislation since the Tax Reform Act of 1986 was signed into law. The Tax Cuts and Jobs Act (TCJA) makes small reductions to income tax

Read more

Six Must-Dos When You Donate to Charity

By : January 19, 2018 Comments Off on Six Must-Dos When You Donate to Charity

Donations are a great way to give to a deserving charity, and they also give back in the form of a tax deduction. Unfortunately, charitable donations are under scrutiny by the IRS, and many donations without adequate documentation are being

Read more

IRS Disaster Assistance and Emergency Relief

By : October 27, 2017 Comments Off on IRS Disaster Assistance and Emergency Relief

Our nation has been has been plagued by multiple hurricanes and wildfires. The link below is from the Internal Revenue Service website and may be helpful to those that have been directly affected. https://www.irs.gov/businesses/small-businesses-self-employed/disaster-assistance-and-emergency-relief-for-individuals-and-businesses-1    

Read more

Business Tax: Time to Consider Section 179?

By : October 23, 2017 Comments Off on Business Tax: Time to Consider Section 179?

Section 179 expensing can be a very powerful tax-planning tool for small and medium-sized businesses acquiring capital assets. While it doesn't change the amount of depreciation you can take over the life of capital purchase, it can change the timing

Read more

How To Fix Your Overfunded Account

By : September 22, 2017 Comments Off on How To Fix Your Overfunded Account

Is socking away large sums in a tax-deferred retirement account ever a bad it? It is when you exceed the annual IRS limits. Intentional or not, the penalties can be painful. Here's how overfunding occurs and what steps to take

Read more

End of College Tuition Deduction

By : August 30, 2017 Comments Off on End of College Tuition Deduction

It can be difficult to watch your child leave for college. Now you also have to say goodbye to the tuition and fees tax deduction. Congress decided not to extended this $4,000 deduction for 2017, leaving many parents worried that

Read more

Consider a Mid-Year Business Self-Audit

By : August 16, 2017 Comments Off on Consider a Mid-Year Business Self-Audit

The word "audit" makes most of us uncomfortable. But by using auditing principles within your own business, you may quickly discover ways you can enhance your firm's full-year performance. Here are some factors to consider. Prepare with a pre-audit. Perhaps

Read more