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Returning Value Blog

How Charitable Giving Could Help Save On Your 2017 Tax Return

Posted by Trisha Williams, CPA on Oct 16, 2017

How to boost the impact of charitable gifts and save more on taxes.

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Posted in Individual Tax

Individual Taxpayers On Extension in 2017 Are Running Out of Time To File

Posted by Lesley L. Price, CPA on Oct 10, 2017

If you have not filed your taxes, you are quickly running out of time. The deadline for all individual taxpayers who filed for an extension is Monday, October 16, 2017, since October 15, falls on a weekend. You must file and pay any balance due next week.

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Posted in Individual Tax

Accelerate Your Retirement Savings With A Cash Balance Plan

Posted by Michael D. Machen, CPA, CVA on Oct 09, 2017

Business owners may not be able to set aside as much as they’d like in tax-advantaged retirement plans. Typically, they’re older and more highly compensated than their employees, but restrictions on contributions to 401(k) and profit-sharing plans can hamper retirement-planning efforts. One solution may be a cash balance plan.

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Posted in Business Advisory

Pension Plans Aren't Yet A Relic Of The Past

Posted by Don G. Chastain, CPA on Oct 06, 2017

 

Only 20% of Fortune 500 companies are offering new employees pension plans, but plenty of workers and retirees still count on them for retirement income.

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Posted in Retirement & Wealth Management Planning

Timing Strategies Could Become More Powerful In 2017, Depending On What Happens With Tax Reform.

Posted by Nick Wheeler, CPA on Oct 04, 2017

Projecting your business income and expenses for this year and next can allow you to time when you recognize income and incur deductible expenses to your tax advantage. Typically, it’s better to defer tax. This might end up being especially true this year, if tax reform legislation is signed into law.

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Posted in Business Tax

Tax Implications Of The Sharing Economy

Posted by Lisa Albritton on Oct 03, 2017

Do you provide car rides through a mobile app, rent out your spare room using an online platform or repair computers for local businesses on demand? If so, you may be considered part of the "sharing economy" also known as the Gig or on-demand economy.

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Posted in Individual Tax

Tax Break Helps Storm Survivors

Posted by Jessica L. Pagan, CPA on Oct 02, 2017

 

How to claim the casualty loss deduction after a disaster.

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Posted in Individual Tax

2 Ways Spouse-owned Businesses Can Reduce Their Self-employment Tax Bill

Posted by Melissa Motley, CPA on Sep 26, 2017

If you own a profitable, unincorporated business with your spouse, you probably find the high self-employment (SE) tax bills burdensome. An unincorporated business in which both spouses are active is typically treated by the IRS as a partnership owned 50/50 by the spouses. (For simplicity, when we refer to “partnerships,” we’ll include in our definition limited liability companies that are treated as partnerships for federal tax purposes.)

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Posted in Business Advisory

School Supplies Needed for Texas School Students

Posted by Michael D. Machen, CPA, CVA on Sep 25, 2017

Machen McChesney will serve as a drop-off location for the school supplies needed for children in Beaumont, Texas.

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Posted in Alerts

What You Need to Know…And Do…About the Massive Equifax Cyberbreach

Posted by Michael D. Machen, CPA, CVA on Sep 22, 2017

Can you imagine a cyberbreach affecting one-third of the U.S. population? That’s exactly what happened with the Equifax breach earlier this month, and it is important that we share the steps you should follow to best protect yourself and your family.

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Posted in Individual Tax

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