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Blow the dust off your employee handbook

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted February 26, 2019 / No comments

Blow the dust off your employee handbook It’s probably safe to say that most employers have created some form of an employee handbook. But just because your organization has one, that doesn’t mean it’s functional. An outdated or poorly written handbook could harm your organization by misleading employees or sending mixed messages about your HR

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The home office deduction: Actual expenses vs. the simplified method

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted February 19, 2019 / No comments

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 against your business income on your 2018 income tax return. There are now two methods

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3 big TCJA changes affecting 2018 individual tax returns and beyond

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted February 12, 2019 / No comments

3 big TCJA changes affecting 2018 individual tax returns and beyond When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes

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IRS provides QBI deduction guidance in the nick of time

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted February 1, 2019 / No comments

When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of the dramatic cut in corporate tax rates. But the TCJA also includes a generous deduction for smaller businesses that operate as pass-through entities, with income that is “passed through” to owners and taxed as individual

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IRS provides QBI deduction guidance in the nick of time

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted January 29, 2019 / No comments

When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of the dramatic cut in corporate tax rates. But the TCJA also includes a generous deduction for smaller businesses that operate as pass-through entities, with income that is “passed through” to owners and taxed as individual

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2019 tax calendar

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted January 28, 2019 / No comments

To help you make sure you don’t miss any important 2019 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them. Date Deadline for January 31

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Depreciation-related breaks on business real estate: What you need to know when you file your 2018 return

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted January 28, 2019 / No comments

Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments. Some of these were enhanced by

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Protect retirement plan fiduciaries through training, insurance and managing risk

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted January 18, 2019 / No comments

When an employer decides to sponsor a retirement plan for employees, it takes on great responsibility. Anyone who exercises discretionary authority over any vital facet of plan operations likely will be considered a plan fiduciary. In turn, these individuals face a significant risk of liability if anything goes seriously wrong with the plan. Your plan

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Sudden impact: When a spouse unexpectedly dies

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted January 17, 2019 / No comments

What if the unthinkable happens and your spouse dies unexpectedly? Would you be prepared to cope emotionally and financially? As the surviving spouse, you’ll face several tasks and challenges. First steps first By no means complete, the following are areas that will need to be addressed: Death certificates. One of the first things to do

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What will your marginal income tax rate be?

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted January 15, 2019 / No comments

While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing status. But some may see additional tax savings due to their filing

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