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President Proposes Lower Tax Rate on S Corp Income

Posted on: April 27, 2017

President Trump’s plan to cut the tax rate to 15% for pass-through businesses would be a radical change to the tax code. The measure would apply to partnerships, S corporations, and limited liability companies that don’t have to pay corporate-level taxes and instead “pass through” to owners the income and losses. The current tax rate … Continue reading President Proposes Lower Tax Rate on S Corp Income

New Form I-9: Staying Compliant

Posted on: January 17, 2017

If you run a business, then you know the importance (and maybe the hassle, too) of correctly obtaining and storing the I-9 Employee Eligibility Verification form. In case you haven’t heard, CAS wanted to let you know about updates to the I-9, which has been revised for 2017. Beginning January 22nd all employers must use … Continue reading New Form I-9: Staying Compliant

The Alternative Minimum Tax

Posted on: December 2, 2016

To the surprise of some commentators, markets rallied after the election of Donald Trump. One way to explain the surge is that Trump’s economic policies are pro-business and pro-middle-class. A specific policy point that garners excitement among the business class is the repeal of the AMT, the Alternative Minimum Tax. In the most basic sense, … Continue reading The Alternative Minimum Tax

Section 179: A Small Business Perspective

Posted on: November 9, 2016

Has your business been considering purchasing new equipment but unsure about how you’ll handle the expense? If so, CAS wants to let you know about the Section 179 Deduction. The deduction is designed to make large purchases attractive to small businesses. Nearly all business equipment — including machinery, computers, software, office furniture, and vehicles — … Continue reading Section 179: A Small Business Perspective

Charitable Donations

Posted on: October 26, 2016

Now that we’ve hit the fourth quarter of 2016, you might be looking at your bottom line and asking how charitable contributions can affect your tax liability. CAS wants to introduce you to three basic tax rules that will help your business give wisely. 1. Giving wisely depends first of all on your business entity. … Continue reading Charitable Donations

FLSA Final Rule Q&A

Posted on: June 6, 2016

What is the FLSA? The Fair Labor Standards Act (FLSA) is a federal labor law aiming to protect United States workers. The act guarantees employees at least the federal minimum wage for every hour worked, as well as one and a half times their regular rate of pay for every hour worked over 40 hours … Continue reading FLSA Final Rule Q&A

START PLANNING FOR NEXT YEAR’S TAXES USING THIS YEAR’S RETURN

Posted on: March 30, 2016

Whew! You filed your return and now you’re ready to forget all about taxes until next year. Not so fast! Your 2015 tax return is a great tool to help you plan for 2016. Here’s what to look at. Review your withholding. If you owed tax this year or received a large refund, consider adjusting … Continue reading START PLANNING FOR NEXT YEAR’S TAXES USING THIS YEAR’S RETURN

CONSIDER ADVANTAGES AND DISADVANTAGES BEFORE MAKING AN S CORPORATION ELECTION

Posted on: February 1, 2016

Are you deciding whether to make your business an S corporation for 2016? Here are tax considerations to review before the March 15 due date of the election. When you make an S election, you’re opting to have your business’s income or loss “passed through” to you and other shareholders. That means you’ll report the … Continue reading CONSIDER ADVANTAGES AND DISADVANTAGES BEFORE MAKING AN S CORPORATION ELECTION

HIGHLIGHT THESE TAX DATES ON YOUR 2016 CALENDAR

Posted on: January 4, 2016

Grab your fluorescent highlighters and pick a color that you like. It’s time to mark important tax due dates on your 2016 calendar. January 15 – Due date for the fourth and final installment of 2015 estimated tax for individuals (unless you file your 2015 return and pay any balance due by February 1). February … Continue reading HIGHLIGHT THESE TAX DATES ON YOUR 2016 CALENDAR

FIVE YEAR-END TAX SAVERS FOR BUSINESSES

Posted on: December 4, 2015

The year is nearly over, but you can still take action to lower your business income tax during the final months of 2015. Here are five moves to consider. 1. Postpone revenue to 2016. If your business reports on the cash basis, delay billing your customers long enough to ensure that payments will arrive after … Continue reading FIVE YEAR-END TAX SAVERS FOR BUSINESSES