Cavanagh Ringelman CPAs, PC

If you recently filed your 2017 individual income tax return or filed for an extension, it may seem like some time off from thinking about taxes is in order, but taking such a break could be costly, especially this year with new tax laws being passed.

The total impact of the TCJA’s reduced tax rates and other changes that will determine whether or not your tax liability drops for 2018. Changes to the personal exemption, standard deduction and child credit are just the tip of the iceberg.

After the bottles have been popped and confetti swept from the floor, business owners will face a new year of challenges. Start thinking now about how to strengthen your company’s bottom line.

The charitable donation deduction hasn’t been proposed for elimination or reduction under tax reform, but there still are reasons to maximize charitable giving this year. Just be sure to follow the rules and see when it would be best to donate.

To avoid interest and penalties, it’s important for businesses to be prepared for upcoming tax-related deadlines. Make sure you know what’s due in the 1st quarter of 2018.

Where did all the time go?!? I hope everyone got a head start on Christmas shopping.

A 15% or 20% tax rate generally applies to long-term capital gains. But a 0% rate is available for taxpayers in the two lowest income tax brackets. Here’s how higher-bracket taxpayers can take advantage of the 0% rate.

From all of us here

Smart timing of deductible expenses can reduce your tax liability, and poor timing can unnecessarily increase it. Should you prepay property tax on your home to accelerate your deduction into 2017? Well that depends on a few factors. Check out this article for extra details.

I didn't even know there was an International Accounting Day... I guess that's my fun fact for the day. Here's 10 more!

Teachers who pay for classroom supplies out of their own pocket may be eligible for a tax break. If you're an educator or know someone who is, give this article a look!