Current Updates

Tax Relief Provided by the CARES Act

We hope that you are keeping yourself, your loved ones, and your community safe from COVID-19 (commonly referred to as the Coronavirus). Along with those paramount health concerns, you may be wondering about some of the recent tax changes meant to help everyone coping with the Coronavirus fallout. We want … Continue reading

Important Information Regarding Tax Returns

With the recent announcement that both the tax payment deadline and now the tax filing deadline have been moved to July 15th, 2020 we wanted to give you an update on how this will affect the preparation of your 2019 income tax return. We will remain in operation for essential … Continue reading

Congress Passes the Taxpayer Certainty and Disaster Tax Relief Act of 2019

Congress has passed the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the Disaster Act) as part of the Further Consolidated Appropriations Act, 2020. The Disaster Act retroactively extends over 30 Code provisions (including the mortgage insurance premium deduction and the 7.5%-of-AGI medical expense deduction floor), generally through 2020. … Continue reading

Congress Passes the SECURE Act

Congress has passed the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) as part of the Further Consolidated Appropriations Act, 2020. The Act, which contains only minor changes from the version passed by the House earlier this year, affords individuals more opportunities to increase their savings and … Continue reading

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The recently enacted Tax Cuts and Jobs Act (TCJA) – Businesses

The recently enacted Tax Cuts and Jobs Act (“TCJA”) is a sweeping tax package. Here’s an overview of some of the more important business tax changes in the new law. Unless otherwise noted, the changes are effective for tax years beginning in 2018. • Corporate tax rates reduced. One of … Continue reading

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The recently enacted Tax Cuts and Jobs Act (TCJA) – Individuals

The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here’s a look at some of the more important elements of the new law that have an impact on individuals. Unless otherwise noted, the changes are effective for tax years beginning in 2018 through 2025. • … Continue reading

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Simplified Employee Pensions (SEPs)

You are thinking about setting up a retirement plan for yourself and your employees, but are concerned about the financial commitment and administrative burdens involved in providing a traditional pension or profit-sharing plan. An alternative program you may want to consider is a “simplified employee pension,” or SEP. SEPs are … Continue reading