Latest News

Latest News

What’s inside

The new math of municipal bonds
Handling qualified charitable distributions
Deducting qualified business income
Tax calendar


With 44 million borrowers owing a total of $1.5 trillion, student loan debt now exceeds credit card debt.

Did you know?

Minnesota ranks as the least tax-friendly state for retirees. State income tax rates range from 5.35% to 9.85%. Taxes often are imposed on pensions, retirement plan distributions, and some Social Security benefits. Connecticut, Kansas, and Vermont are next on this high tax list.

Practice development tip
Use tax returns as a teaching tool

This year’s tax filing season brings the first returns under the Tax Cuts and Jobs Act (TCJA) of 2017. Some features of the TCJA will be new to clients and may be startling. You can use these returns to trigger conversations and generate future tax-planning sessions. For example, many married clients who generally itemize deductions will be taking the standard deduction for 2018, mainly due to the $10,000 cap on state and local tax (SALT) deductions.

Smart tax, business and planning ideas from your Trusted Business Advisor SM January 2019

In this issue
1 Double (and triple) IRA season is here
2 Drive cautiously… but carry ample auto insurance
3 IRS says business meal deductions still apply
4 Tax calendar

Double (and triple) IRA season is here

The start of each year might be considered “Double IRA” season. Until mid-April (the 15th, in 2019), you still can make contributions to an IRA for 2018, if you have funds you’d like to save for retirement.Most workers and their spouses may each contribute up to $5,500, or $6,500 for those who were 50 or older at the end of 2018.

Tax and Financial Reporting

News and Tools August 2018

The Tax Cuts and Jobs Act (TCJA) generally effective stating in 2018, raised the threshold for the requirement to use the percentage-ofcompletion method (PCM) from $10million average annual gross receipts (AAGR) to $25million for contracts starting in 2018.

Smart tax, business and planning ideas from your Trusted Business AdvisorSM November 2018

Year-end planning under the new tax law

The Tax Cuts and Jobs Act of 2017 (TCJA),passed at the end of last year, generallytook effect in 2018. Therefore, the fourthquarter of this year provides the first real opportunity for year-end planning under what has been called the most important tax law passed in more than 30 years. (more…)