By Jeremy Kiecker, CPA If you're feeling overwhelmed with your business' accounting needs, you're not alone. Many business owners stress over profit and loss statements and bank accounts. But the reality is, you don't have to. Outsourcing your bookkeeping and accounting functions to a CPA firm … [Read more...]
The New 199A Deduction for Business Owners: It’s Complicated
By Asta Stark, CPA One of the changes ushered in by the Tax Cuts and Jobs Act is a new deduction on a personal tax return for pass-through business owners, called the 199A deduction. For these individuals, the deduction could provide up to a 20 percent tax deduction for qualified business income. … [Read more...]
Plan Now to Avoid Surprises Later
Do you know how the Tax Cuts and Jobs Act will affect your 2018 taxes? What the new year could bring for your business? How you'll prepare year-end financial statements? Whatever you do, don't be caught off guard when 2019 rolls around. Take a moment to plan ahead with PWB today. Get … [Read more...]
7 Year-End Tax Planning Moves for Small Businesses
Business owners still have time to significantly reduce their tax bills for 2018. Here are seven year-end small business tax planning moves to consider, taking into account changes included in the Tax Cuts and Jobs Act (TCJA). 1. Claim 100% Bonus Depreciation for Asset Additions Thanks to the … [Read more...]
Could a Donor-Advised Fund Keep Your Annual Tradition of Charitable Giving Alive?
By Judy Wold, CPA One of the changes brought about by the Tax Cuts and Jobs Act (TCJA) is a significant increase in the standard deduction starting in 2018. Because of this, the tax benefits typically associated with itemized deductions, including those from charitable contributions, have largely … [Read more...]
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