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Blog Month: October 2018

Tax Relief for Victims of Severe Storms in Wisconsin

Good news for many Wisconsin Taxpayers who suffered losses due to the severe storms, tornadoes, straight-line winds, flooding and landslides that took place mid-August  2018.  The President has declared a
Paper cutouts of people

Worker Co-ops Operating Under Subchapter T and the New Tax Law

The new tax law was amended in March 2018 to change the patronage dividends rules but did allow them to be eligible for the 20% pass through business deduction.  Co-ops
Tax collage of words

Taxation of Corporation vs. Partnership vs. S-Corporation

Taxation of Corporation vs. Partnership vs. S-Corporation

Patronage Dividends under the New Tax Law

On March 23, 2018 Congress passed an amendment to the new tax law that removed the “Grain Glitch” where private grain elevators were significantly disadvantaged.  Using per unit retains, a

South Dakota v. Wayfair, Inc.

It’s been a big year for tax changes. The United States Tax Cuts and Jobs Act (“Tax Reform”) has taken front seat and grabbed much attention. However, an equally big tax

Could “bunching” medical expenses into 2018 save you tax?

Some of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you

Meals & Entertainment Post Tax Reform

Is your accounting department prepared for the recent changes to meals and entertainment deductions?  Have they been trained to code invoices and track expense reports according to the new rules? 

IRS Grants Donor Information Reporting Relief

Are you tired or spending hour after hour gathering donor name and address information to submit with your organization’s 990 each year? If so, we may have great news for

Consider all the tax consequences before making gifts to loved ones

Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see

Tax-free fringe benefits help small businesses and their employees

In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free