We should think of the Blockchain as another class of thing like the Internet – a comprehensive information technology with tiered technical levels and multiple classes of applications for any form of asset registry, inventory, and exchange, including every area of finance, economics, and money; hard assets (physical property, homes, cars); and intangible assets (votes, […]
The recently passed tax reform bill has received a considerable amount of press, and for good reason. As the most comprehensive tax reform in over 30 years, the new tax laws will impact every individual & business in America. Its impact also extends to the way we approach financial planning for our clients. Estate Planning […]
New tax law having positive effect on economy According to the Wall Street Journal, July 13, 2018. The effect of the new tax law can be seen in June government statistics. According to the U. S. Treasury, tax revenues fell 7% in June compared to June 2017. Corporations and Individuals are lowering their tax payments […]
Business owners are often surprised to learn they may be able to claim the Research & Development tax credit. The credit was originally created as way to encourage American companies to conduct R&D activities domestically. While initially thought to apply to large companies with formal R&D departments, “smaller businesses” in a wide range […]
Last week, our company was invited to be on the national broadcast The Shrimp Tank which is produced here in Atlanta, GA. We had a great time on the show and gave lots of tidbits and nuggets to all of the listeners on how to become a better business owner. To that end, we wanted […]
Divorce is stressful enough, but the new tax bill may ramp up the complications and anxieties for couples who are calling it quits. Divorce experts are predicting a confusing, turbulent year, thanks to the tax plan’s reversal on who pays taxes on alimony. For more than 70 years, the tax law allowed the higher-earning spouse […]
Governor Nathan Deal signed major income tax changes in response to the federal Tax Cuts and Job Act of 2017 (“TCJA”), on March 2, 2018. The major components of the legislation are as follows: The top individual and business tax rates have been reduced to a maximum rate of 5.75% The standard deduction for […]
When you hire a new employee, they must fill out a W-4 form telling you, their employer, how they want their federal withholdings. Single, married. Number of withholding allowances. The Internal Revenue Service has issued a notice providing guidance for employees and employers on what to do with the Form W-4 under the new Tax […]
2017 Tax Reform: IRS clarifies interest on home equity loans. Often still deductible In an Information Release, IRS has announced that in many cases, taxpayers can continue to deduct interest paid on home equity loans under the recently enacted Tax Cuts and Jobs Act (PL 115-97, 12/22/2017). Background. Taxpayers may deduct interest on mortgage […]
There are certain provisions of the new tax law that offer expanded tax cuts while others eliminate existing deductions. One big plus is bonus depreciation. Under prior law, there was a 50 percent bonus depreciation for property placed in service in 2017, 40 percent for 2018, and 30 percent for 2019. Qualified property has to […]
