A new year means new Human Resources regulatory changes in employment law. Below is a sample of what you need to know (varies from state to state) about employment law to stay ahead of the curve Sincerely yours, Dean R. Holland, CPA, MSAPresident 2020 Human Resources Regulatory Changes to Employment Law A new year means…
Congress recently passed-and the President signed into law-the SECURE Act – Setting Every Community Up for Retirement Enhancement Act, landmark legislation that affects the rules for creating and maintaining employer-provided retirement plans. The SECURE Act became effective January 1, 2020. The following provides highlights of the most notable changes, as well as what the legislation…
Like many of my clients, I have been fortunate to run a successful small business for many years. Recently I was interviewed for an article (shown below) about family-owned accounting businesses and how not many of them are being handed down to the next generation. Succession planning is something all small business owners think…
The IRS has issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. As always, please contact our office if you wish to discuss any of these changes and how they may directly affect your business. Sincerely yours, Dean R. Holland,…
The IRS has announced the following cost-of-living adjustments with respect to retirement plan limits for 2019. As always, please contact our office if you wish to discuss any of these changes and how they may directly affect your business. Sincerely yours, Dean R. Holland, CPA, MSA President Many Retirement Plan Dollar Limits Increase For 2019…
Dear Real Estate Owner: Several of my clients own real estate rental properties and they have been asking if they can deduct losses against their other income for tax purposes. Below is a summary of the current tax guidelines related to this topic. Please call me to schedule an in-depth review to determine whether you can…
On December 22, President Trump signed into law the “Tax Cuts and Jobs Act”, a sweeping tax reform law that will entirely change the tax landscape. The article below describes key business tax changes that are made under the Act. Obviously, many of these law changes may not have a direct effect on your business…
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…