Congress acts to reform the IRS, enhance taxpayer protections
The U.S. Senate has passed, and President Trump is expected to sign into law, a broad package of reforms aimed at the IRS. Among other things, the Taxpayer First Act […]
Retirement Basics: Understanding Tax Efficiency
One of the basics in retirement is to be as tax-efficient with your income as possible. In 2019, income tax rates range from 0 to 37 percent, plus a potential […]
IRS ALERT: Two New Tax Scams
The IRS remains on the lookout for tax scams that can blindside unsuspecting taxpayers. Now two variations of past scams are currently making the rounds. Here’s what you need to […]
Gilbert Announces New Shareholders
Gilbert CPAs is pleased to announce the continued growth of our firm with the promotion of two key leaders: Jennifer Z. Iwata, CPA, MST and John F. Bricher, CPA, as […]
How entrepreneurs must treat expenses on their tax returns
Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open […]
Deducting business meal expenses under today’s tax rules
In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors, and employees. What can you deduct on your tax […]
When do you need a charitable appraisal
Suppose you intend to donate personal property that has appreciated in value — say, artwork or a family heirloom — to one of your favorite charities. Generally, if you itemize […]
The home office deduction: Actual expenses vs. the simplified method
If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim a home office deduction […]
When are LLC members subject to self-employment tax?
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to […]
Fundamental tax truths for C corporations
The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been great news for these entities and their owners. But some […]