Archive | Insights & Perspective

Keep an eye out for extenders legislation

The pieces of tax legislation garnering the most attention these days are the Tax Cuts and Jobs Act signed into law last December and the possible “Tax Reform 2.0” that Congress might pass this fall. But what happens with “extenders” legislation is also important. It affects whether the above-the-line deduction for tuition and related expenses, […]

Continue Reading 0

New 20% deduction for “qualified business income”

Dear Clients and Friends: We are writing to inform you of a significant new tax deduction taking effect in 2018 under the new tax law. It should provide a substantial tax benefit to individuals with “qualified business income” from a partnership, S corporation, LLC, or sole proprietorship. This income is sometimes referred to as “pass-through” […]

Continue Reading 0

Thank You

We would like to use this space to thank our clients and friends for the opportunity to have served them during this past year. Whether called upon to provide accounting, auditing or tax services, business or personal financial planning or perhaps just to listen, we will always do our best to provide quality service. We […]

Continue Reading

Tax Reform

The President’s Advisory Panel on Federal Tax Reform has finally issued its report and, surprisingly, found the current tax system to be flawed and in need of some tinkering. We asked the leading Republican Presidential candidate, Donald Trump, for his thoughts on reforming our our current income tax code. The Duck’s response:

Continue Reading

Magic: Social Security Benefits

How do you know if your Social Security benefits are taxable? The answer requires MAGIC — (the Modified Adjusted Gross Income Calculation). The “magic” number, generally, is your adjusted gross income (excluding your social security benefits) plus

Continue Reading

Happy Holidays

That you are now reading this letter means that you have opened our package and have noticed our Annual Tax Organizer.  While you may have a tremendous urge to complete it immediately, we suggest you concentrate initially on the first question posed to you – What is your filing status?  Our heroes in Congress and […]

Continue Reading