Newsletter/Blog — Jones & Kolb

Do you run your business from home? You might be eligible for home office deductions

Do you operate your business from home or perform certain functions at home that are related to your business? You might be able to claim home office deductions on your tax return.

Small Business TaxDebbie HarryFebruary 24, 2020

If you’re planning to move overseas, it’s time for an estate plan review

Planning on picking up stakes and moving abroad? Before making the move, learn the financial pitfalls and review your estate plan.

Estate planningDebbie HarryFebruary 20, 2020

How to prepare your nonprofit for a financial audit

Annual independent audits don’t have to be stressful. If you devote proper time and attention to accounting throughout the year, you may even find audits affirming. Here’s how to prepare.

Not-for-profit TaxDebbie HarryFebruary 19, 2020

How business owners may be able to reduce tax by using an S corporation

If you conduct your business as an S corporation, you’ll be subject to income tax, but not self-employment tax, on your share of the S corporation’s income. Could this be the entity for you?

Small Business TaxDebbie HarryFebruary 18, 2020

Reasons why married couples might want to file separate tax returns

In most cases, married couples who file jointly save more money on taxes than those who file separate returns. However, there are cases when filing separately is a better option.

Tax & Regulation Alerts, Tax planningDebbie HarryFebruary 18, 2020

Take steps to curb power of attorney abuse

Should you become incapacitated, a durable power of attorney authorizes your agent to manage your financial affairs. But without proper safeguards in place, it’s at risk for abuse.

Estate planningDebbie HarryFebruary 13, 2020

Can your board recognize financial red flags?

Does your nonprofit’s board understand the financial information they receive? Are members able to spot irregularities and warning signs? It could determine your organization’s future.

Not-for-profit TaxDebbie HarryFebruary 12, 2020

The tax aspects of selling mutual fund shares

There are many complex facets involved in selling mutual fund shares. Here’s a rundown.

Tax planningDebbie HarryFebruary 11, 2020

The SECURE Act likely to affect your retirement and estate plans

How will the SECURE Act affect your retirement and estate plans?

Tax & Regulation AlertsDebbie HarryFebruary 10, 2020

Do you want to go into business for yourself?

There are many ways to conduct a business for tax purposes, including as an S corporation or a partnership. But many new ventures start out as sole proprietorships. Here are nine tax rules and considerations involved in operating as that entity.

Small Business TaxDebbie HarryFebruary 10, 2020

Repeal of tax on Not-for-Profits for Transportation Fringe Benefits

Repeal of “Parking Tax” on exempt employers

Not-for-profit TaxDebbie HarryFebruary 7, 2020

Do Your Employees Receive Tips? You may be eligible for a tax credit.

Employers in the food and beverage industry may be eligible for a valuable tax break with the FICA tip credit. Here’s how it works.

Small Business TaxDebbie HarryFebruary 6, 2020

Determining whether you need to file a gift tax return can be tricky

A solid gifting strategy often is the backbone of an estate plan. Knowing when a gift tax return must be filed can keep you on the right side of the IRS.

Estate planningDebbie HarryFebruary 6, 2020

How taxes affect your nonprofit’s donors

The rules for deducting charitable gifts can be confusing. Here’s a quick cheat sheet. Review it so you can help your nonprofit’s donors make the best decisions.

There still might be time to cut your tax bill with IRAs

Saving for retirement is essential for financial security and the government provides tax incentives. If you’re eligible, you still have time to contribute to an IRA, Roth IRA or SEP and benefit on your 2019 tax return.

The SECURE Act changes the rules for employers on retirement plans

With many of the provisions of the SECURE Act now in effect, do you know how they might affect your business?

Tax & Regulation AlertsNancyFebruary 4, 2020

Inheriting property? Be aware of the basis consistency rules

Basis consistency rules may not be the first thing on your mind if you’re expecting to inherit property from a family member or other loved one. But it may be time to brush up on these regulations.

Estate planningNancyJanuary 31, 2020

Numerous tax limits affecting businesses have increased for 2020

How much can your employees contribute to 401(k) plans this year? How much do employees have to earn in 2020 before they can stop paying Social Security tax? Here are the answers to these and other questions about annual tax-related inflation adjustments affecting businesses.

NancyJanuary 29, 2020

How to gather more feedback from the people you serve

Do your nonprofit’s clients know you’re listening? We have tips for organizations with budgetary or time constraints that prevent them from regularly soliciting feedback.

Not-for-profit TaxNancyJanuary 29, 2020

Can you deduct charitable gifts on your tax return?

We can answer any questions you may have about the deductibility of charitable gifts or changes to the standard deduction and itemized deductions.

Tax planningNancyJanuary 29, 2020

How may we help you?

Whether you’re an individual or a business, Jones and Kolb can help you deal with the challenges you face now and put you in the best position for a great future.