Vernoia, Enterline + Brewer, CPA LLC

Archive for the ‘Bookkeeping’ Category

Tax law changes may affect business owners

The Internal Revenue Service reminds business owners that tax reform legislation passed last December affects nearly every business. (more…)

Small business accounting method changes under TCJA

The Internal Revenue Service issued guidance on new tax law changes that allow small business taxpayers with average annual gross earnings of $25 million or less in the prior three-year period to use the cash method of accounting.
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Three Common Types of IRS Tax Penalties

Around this time of year, many people have filed and forgotten about their 2017 tax returns. But you could get an abrupt reminder in the form of an IRS penalty.

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Seasonal, Part-year Workers Urged to Check Tax Withholding Amount

The Internal Revenue Service today encouraged taxpayers who work seasonal jobs or are employed part of the year to visit the Withholding Calculator and perform a “paycheck checkup.” (more…)

The New Deal on Employee Meals and Entertainment

Years and years ago, the notion of having a company cafeteria or regularly catered meals was generally feasible for only the biggest of businesses. But, more recently, employers providing meals to employees has become somewhat common for many midsize to large companies. A recent tax law change, however, may curtail the practice. (more…)

Handle With Care: Mutual Funds and Taxes

Many people overlook taxes when planning their mutual fund investments. But you’ve got to handle these valuable assets with care. Here are some tips to consider. (more…)

Child and Dependent Care Tax Credit

Reduce Certain Summertime Costs with the Child and Dependent Care Tax Credit

Many parents send their children to summer day camps while they work or look for work. The IRS urges those who do to save their paperwork for the Child and Dependent Care Tax Credit. Eligible taxpayers may be able claim it on their taxes in 2018 if they paid for day camp or for someone to care for a child, dependent or spouse during 2017. (more…)