Last updated on October 19th, 2020As a taxpayer, if you have a child or young adult living in your home for more than half a year who does not provide for more than half of their own support, does not file a tax return jointly, and one or both parents

Last updated on October 19th, 2020An Employee Stock Ownership Plan, or ESOP, is a qualified defined contribution employee benefit plan authorized under the Employee Retirement Income Security Act (ERISA). An ESOP is similar to a profit-sharing plan, but a key difference is that the ESOP invests primarily in the stock

Last updated on October 19th, 2020The Holidays are here, it’s the time to plan time with family and loved ones… it is also the time to consider tax-saving opportunities for your business before its tax year-end. Some of these opportunities may apply regardless of whether your business is conducted as

Last updated on October 19th, 2020The new tax law signed by the President has changed the way business must consider meals, entertainment and transportation expenses. Generally meal and entertainment expenses were 50% deductible. The changes made with the recent legislation (H.R. 1) entertainment expenses are now 100% NOT deductible for

Last updated on October 19th, 2020The new tax law has many changes for Individuals and Business.  One important change that may require some time to plan for is the deductibility of Interest expense for a business. Interest deduction limitation: Under the act, the deduction for business interest is limited to

Last updated on October 19th, 2020On Wednesday, September 27, 2017, President Donald Trump proposed tax cuts that will affect both individuals and businesses. If passed, these tax cuts will make up the most drastic changes the United States tax code has seen in a long time. Here’s what taxpayers need to know. This