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Monthly Archives: November 2018

There’s Still Time to Secure Health Insurance for 2019


Posted on November 29, 2018 by Adam Cohen

The open-enrollment period for U.S. taxpayers to secure medical health insurance for 2019 via the Health Insurance Marketplace runs from Nov. 1, 2018, through Dec. 15, 2019. While the new tax law introduced on Jan. 1, 2018, does eliminate the Obamacare individual shared responsibility penalty for individuals who go without insurance in 2019, there are […]

IRS Introduces Per Diem Rates Effective October 2018 by Dustin Grizzle


Posted on November 27, 2018 by Dustin Grizzle

The IRS issued its annual update to the daily rates that employers may use to reimburse employees for lodging, meals and other incidental expenses that workers incur while traveling for business purposes. The per diem rates are fixed amounts that employers may use to more easily reimburse workers for ordinary and necessary business travel expenses […]

Are you Ready to meet the January Tax Filing Deadline? by Laurence Bernstein, CPA


Posted on November 26, 2018

With the tax year coming to an end, it is critical that business owners remember they have obligations to report by Jan. 31, 2019, the compensation they paid to employees and to all independent contractors and service providers during the prior tax year. This leaves businesses with limited time after an often hectic holiday season […]

Not Sure of your Tax Filing Status? Ask a CPA by Adam Slavin, CPA


Posted on November 21, 2018 by Adam Slavin

When taxpayers prepare their annual returns, they must select a filing status, which determines their eligibility for certain credits and deductions and ultimately influences the amount of federal income tax they owe. For some individuals, the selection is decided for them based on whether or not they are married on the last day of the […]

The Building Blocks of a Strong and Resilient Organizational Culture by Richard A. Berkowitz, JD, CPA


Posted on November 16, 2018 by Richard Berkowitz

Businesses today are challenged by what may be considered the most rapid pace of change in history. New technological advancements and accelerated economic swings are creating a perfect storm for which organizations have little time to prepare and adapt for survival, let alone for success. However, the one beacon of light that an organization can […]

Tax Reform Expands the Definition of “Small” Businesses and their Accounting Method Options by Richard E. Cabrera, JD CPA


Posted on November 13, 2018 by Richard Cabrera

The tax reform law that went into effect beginning in 2018 expands the definition of small businesses that can now qualify to use the cash method of accounting and ultimately defer the recognition of income and payments of tax liabilities to later years. Unlike other changes contained in the Tax Cuts and Jobs Act (TCJA) […]

States Seeking to Fill their Coffers Quickly Adopt New Economic Nexus Laws by Michael Hirsch, JD, LLM


Posted on November 08, 2018 by Michael Hirsch

Several U.S. states have officially adopted new economic nexus laws in response to the Supreme Court’s June ruling in South Dakota v. Wayfair, which eliminated the physical presence test for determining when states could impose sales tax collection obligations on remote and online sellers located outside their borders. Effective Oct. 1, 2018, the following 10 […]

IRS Updates Federal Income Tax Return Form for 2018 by Angie Adames, CPA


Posted on November 06, 2018 by Angie Adames

The IRS recently released a revised draft of Form 1040 that it expects taxpayers to use in 2019 to file their federal income tax returns for the 2018 tax year. The most significant change taxpayers will notice is the smaller size of the form. However, despite the new postcard-size 1040, taxpayers will need to attach […]

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