Interest on Home Equity Loans Often Still Deductible Under the Tax Cuts and Jobs Act

The new tax bill, the Tax Cuts and Jobs Act (“TCJA”) shepherded in by President Trump and members of the Republican Party will bring many changes to the mortgage industry.

The main changes reside with the mortgage interest deduction, home equity loans, home equity lines of credit, and second mortgages.

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4 Tax Cuts and Jobs Act Provisions that Professional Service Providers Should Be Aware Of

The Tax Cuts and Job Act (TCJA) includes provisions that will impact some service industries. One question you might be asking yourself is, "what is a service provider". Service industries are ones where the principal driver of income is the know-how of one or more of the employees of the business. This includes medical practitioners, lawyers, architects, engineers, performers, athletes, financial service providers, brokers, accountants, etc. If you fall into one of these categories, you are a service provider.

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It's Not Too Late...2017 Tax Savings Opportunities to Implement Before April 17th!

I wrote a similar blog last year but I think it is important to remind people that…

There are still tax savings strategies, for tax year 2017, you can implement before the April 17th tax deadline. Two major opportunities, which I have outlined in further detail below, include contributing to a Health Savings Account, and contributing to an IRA.

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How Sales Tax Works for E-Commerce Businesses

As the world continues to shift to an online, competitive marketplace e-commerce sellers are left with many legal and financial concerns.  Now that tax season is upon us these concerns become even more intensified. 

The e-commerce industry can be lucrative. Amazon for example has 190 million reported monthly visitors, but it also comes with its challenges.  Less than 50% of small businesses stay online after four years.  How can you make sure that your business is set up for success when building and growing your e-commerce business?  Some areas to focus on are your revenue and growth model, a payment gateway that is user friendly, what shipping restrictions are in place, how you will manage inventory, and how you will protect customer information (cyber security is here to stay!)

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Tax Breaks Extended for 2017?

On Friday, Congress approved a bill that extends tax breaks that expired at the end of 2016 through 2017.  I know what you are probably thinking…it is the middle of February 2018 and Congress just passed a bill to extend provisions for tax year 2017?!?

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