New Law May Boost C Corporations

by | Jun 12, 2016 | Blog

The recently-signed Protecting Americans from Tax Hikes Act of 2015 reinstates some expired tax benefits retroactively and makes them permanent. On the list is the 100% tax exclusion of the gain from sales of qualified small business stock (QSBS). Example 1: Nick...

Business Tax Benefits from the PATH Act

by | May 5, 2016 | Blog

The tax code includes Section 179, which permits first-year deduction (expensing) of amounts spent for business equipment. This provision formerly allowed annual deductions up to $25,000. After $200,000 of equipment outlays, the allowance phased out,...

Tax Efficient IRA Withdrawals

by | May 4, 2016 | Blog

Many people save for retirement by putting pretax dollars into an employer sponsored retirement plan, such as a 401(k). Those dollars may be rolled into an IRA, perhaps at retirement or after a change in jobs. An IRA rollover can maintain the tax deferral. Ultimately,...

Deducting Charitable Gifts

by | May 1, 2016 | Blog

Charitable donations usually can be deducted on Schedule A of Form 1040, along with other itemized deductions. You should have the required support materials, in case your charitable deduction is questioned. This article will cover the rules on cash contributions:...

TJT Human Resources Services

by | Feb 23, 2016 | Blog

Thomas, Judy & Tucker recently welcomed Lorilynn Spronk to the Outsourced Accounting Services division. This division of the firm provides a full-range of accounting and human resources (HR) services, customized to fit the specific needs of your business. ...