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Returning Value Blog

Lesley L. Price, CPA

Recent Posts

New Tax Credit For Family and Medical Leaves

Posted by Lesley L. Price, CPA on Jun 13, 2018

Employers may benefit from new tax break

The new Tax Cuts and Jobs Act (TCJA) creates a unique tax break for certain businesses. If your company pays employees while they are out of work on a family or medical leave, it may claim a brand-new tax credit for a portion of the wages, beginning in 2018.

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Posted in Business Tax

Sizing Up New Deduction For Pass-through Entities

Posted by Lesley L. Price, CPA on May 08, 2018

Complicated new rules for business owners

The new Tax Cuts and Jobs Act (TCJA) creates a brand-new deduction for pass-through entities, designed to provide a balance to corporations benefiting from tax rate cuts. But the deduction is not nearly as simple as the new flat 21% rate for corporations authorized by the TCJA. Although many tax experts are still grappling with the rules, here are the basics of what we know so far.

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Posted in Business Tax

Estate Planning Beyond The Headlines

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

Ways the new tax law affects federal estate taxes.

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Posted in Estate Planning

Six Tax Reform Issues Impacting Nonprofit Organizations

Posted by Lesley L. Price, CPA on Apr 16, 2018

The Tax Cut and Jobs Act of 2017 (the “Act”) will have a profound impact on tax-exempt organizations. Even those that don’t report unrelated trade or business income or pay their executives over $1 million may still be affected.
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Posted in Business Tax

This Tax Shelter Is Still Standing

Posted by Lesley L. Price, CPA on Apr 03, 2018

Home  sale exclusion remains intact

Although Congress threatened to reduce the benefits of the home sale exclusion, the final version of the new Tax Cuts and Jobs Act (TCJA) did not include a crackdown. As a result, if you sell your home at a huge profit and qualify under the existing rules, you can still exclude up to $250,000 of your gain—$500,000 if you’re married and file a joint return—from the sale of your home.

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Posted in Individual Tax

5 Estate Planning Tips for The Sandwich Generation

Posted by Lesley L. Price, CPA on Mar 05, 2018

The “sandwich generation” accounts for a large segment of the population. These are people who find themselves caring for both their children and their parents at the same time. In some cases, this includes providing parents with financial support. As a result, estate planning — which traditionally focuses on providing for one’s children — has expanded in many cases to include aging parents as well.

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Posted in Estate Planning

4 Asset-protection Strategies

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

Protect your wealth from creditors and litigants.

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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.

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Posted in Business Tax

A Snapshot of How the New Tax Law Affects Individuals

Posted by Lesley L. Price, CPA on Jan 08, 2018

Here is a brief look at how the new Tax Cuts and Jobs Act bill affects individuals.

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Posted in Individual Tax

Tax Cuts and Jobs Act Bill

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

On December 22, President Trump signed the Tax Cuts and Jobs Act bill into law.  The bill will impact virtually every individual and business on a level not seen in over 30 years. We have attached a summary of the key provisions. 

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Posted in Tax Updates

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