14 02, 2018

Emergency Funds: Why They’re Worth It

Emergency funds can be helpful for everyone. Any unexpected hit to your finances, and unanticipated illness or a natural disaster might all be reasons you may need money right away. What is an emergency fund? An emergency fund is designed to keep your life intact during temporary setbacks and to help you avoid unnecessary

14 02, 2018

Tax Cuts and Jobs Act & the Pass-through Entity Owner

If you are a small business owner, your planning probably got a lot trickier after the passage of the Tax Cuts and Jobs Act (TCJA). That's because most small businesses have legal structures that are treated as pass-through entities for tax purposes, meaning they "pass-through" income to the owners or investors, which they record

8 02, 2018

Time to go through your tax records? Consider this.

You're probably getting ready to go through last year's records and prepare for this year. But what should you keep and what can you throw away? Here are some things to keep in mind as you sort through your records. • Keep records that directly support income and expense items on your tax return.

19 01, 2018

Do You Have a Household Employee? Don’t Ignore the Nanny Tax

As you review your filing requirements for 2018, make sure you don't overlook the nanny tax related to household employees. If you have a housekeeper or any other household employee, you could be liable to pay state and federal payroll taxes. How to know if you must pay the nanny tax First, you'll need

11 01, 2018

New Pass-Through Entity Tax Rules

One of the most important – and complicated – changes in the new tax reform in the Tax Cuts and Jobs Act is the tax rules affecting small businesses that are treated as “pass-through entities.” The good news is that if you own one of these businesses you may get as much as a

28 12, 2017

Tax Cuts and Jobs Act – Non-business Tax Limits

The Mangold Group, CPAs is informing you of the new limit placed on individuals' itemized deductions of various kinds of non-business taxes, which was made by the massive Tax Cuts and Jobs Act (the Act), effective beginning with the 2018 tax year. Before the changes were effective, individuals were permitted to claim the following

27 12, 2017

Tax Cuts and Jobs Act – Last-minute Moves You Should Think about Making

Congress has enacted the biggest tax reform law in thirty years, one that will make fundamental changes in the way you, your family and your business calculate your federal income tax bill, and the amount of federal tax you will pay. Since most of the changes will go into effect next year, there's still

27 12, 2017

Tax Cuts and Jobs Act: What the Tax Reform Bill Means for You

This revision on 12/29/2017 is an update of the original blog posted on 12/23/2017. This revision includes adjustments made by the IRS since the original law was passed and additional information and clarification to several sections. Also, view more recent articles about the new tax reform bill on our website Blog page, specifically: Tax Cuts and Jobs

21 12, 2017

7 Tasks in Your Business Year-end Health Check

Business owners and managers spend most of their time monitoring operations and dealing with everyday problems. But just as an annual checkup from your doctor helps monitor and manage your personal health, an annual checkup can do the same for your business. Here are 7 checkup tasks that you should make time to do

11 12, 2017

The Holidays: A Time for Mistletoe and … Fraud?

Don't let a thief turn you into a festive fool this season. Follow these tips to avoid holiday shopping fraud, whether you're buying online or at your local mall. It's not surprising that identity thieves and con artists love the holidays. More shoppers, more deals and more buying motivation makes the season rife with