Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900

Returning Value Blog

Donors Can Get Emotional Satisfaction and Tax Benefits Through Their Giving.

Posted by Lisa Albritton on Feb 21, 2018

Which countries, states, and individuals give the most to charity?

Full Story

Posted in Individual Tax

Follow IRS Rules to Ensure You Receive Your Charitable Tax Deductions

Posted by Marty Williams, CPA on Feb 19, 2018

If reducing your taxable estate is an important estate planning goal, making lifetime charitable donations can help achieve that goal and benefit your favorite organizations. In addition, by making donations during your lifetime, rather than at death, you can claim income tax deductions. But some of your charitable deductions could be denied if you don’t follow IRS rules.

Full Story

Posted in Individual Tax

Top 10 Things Companies Need to Know About Tax Reform

Posted by Michael D. Machen, CPA, CVA on Feb 14, 2018

The $1.5 trillion new tax law represents the most sweeping change to the tax code in a generation. Tax reform of this magnitude will have broad implications for businesses of all sizes and in all industries. While accountants and tax departments wade through the 185-page legislation, here are the top 10 things companies need to know:

Full Story

Posted in Business Tax

Small Business Owners: A SEP May Give You One Last 2017 Tax and Retirement Saving Opportunity

Posted by Don G. Chastain, CPA on Feb 12, 2018

Are you a high-income small-business owner who doesn’t currently have a tax-advantaged retirement plan set up for yourself? A Simplified Employee Pension (SEP) may be just what you need, and now may be a great time to establish one. A SEP has high contribution limits and is simple to set up. Best of all, there’s still time to establish a SEP for 2017 and make contributions to it that you can deduct on your 2017 income tax return.

Full Story

Posted in Retirement & Wealth Management Planning

The IRS Updated its 2018 Withholding Tables

Posted by Murry Guy, CPA on Feb 09, 2018

Is your employer withholding enough in taxes?

Full Story

Posted in Individual Tax

Only Certain Trusts Can Own S Corporation Stock

Posted by Trisha Williams, CPA on Feb 08, 2018

S corporations must comply with several strict requirements or risk losing their tax-advantaged status. Among other things, they can have no more than 100 shareholders, can have no more than one class of stock and are permitted to have only certain types of shareholders.

Full Story

Posted in Tax Planning

Claiming Bonus Depreciation On Your 2017 Tax Return May be Particularly Beneficial

Posted by Jessica L. Pagan, CPA on Feb 06, 2018

With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December, enhances bonus depreciation.

Full Story

Posted in Business Tax

2 Tax Credits Just For Small Businesses May Reduce Your 2017 and 2018 Tax Bills

Posted by Nick Wheeler, CPA on Feb 05, 2018

Tax credits reduce tax liability dollar-for-dollar, potentially making them more valuable than deductions, which reduce only the amount of income subject to tax. Maximizing available credits is especially important now that the Tax Cuts and Jobs Act has reduced or eliminated some tax breaks for businesses. Two still-available tax credits are especially for small businesses that provide certain employee benefits.

Full Story

Posted in Business Tax

4 Asset-protection Strategies

Posted by Lesley L. Price, CPA on Feb 02, 2018

Protect your wealth from creditors and litigants.

Full Story

Posted in Individual Tax Planning

Tax Reform Act: Understanding Two Areas which May Impact Employers and Employees Now – Meals and Entertainment and Moving Expenses

Posted by Lesley L. Price, CPA on Jan 30, 2018

Understanding the implications of the Tax Reform Act will be critical in business planning for 2018. The Act placed stricter limits on what businesses can deduct for meals and entertainment and suspended the exclusion of moving expenses from an employee’s income.  Please see the tables below comparing the rules before and after the Act.

Full Story

Posted in Business Tax

Recent Posts

Returning_Value