The IRS has announced the 2018 cost-of-living adjustments (COLAs) with respect to retirement plan dollar limits. Many limits are changed for 2018 since the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, others remain unchanged. The article below outlines the changes you need to be aware of. Sincerely yours, Dean Holland,…
Business travel, an expensive and time-consuming activity for both the employer and employee, also can create tax problems for all concerned unless the rules are followed to the letter. If it’s done right, business travel will be fully deductible by the company (but only 50% of travel meals are deductible), tax-free to the employee, and…
Dear Tax Payer, Recently the IRS released a fact sheet highlighting some of the important 2016 tax changes that affect the current tax return filing season. The article below summarizes the changes. Sincerely Yours, Dean R. Holland, CPA, MSA President IRS Highlights Significant 2016 Tax Changes for the Current Filing Season In a recent…