2018
Increasing Compliance and Planning Fees
Every year, we take an opportunity to review our business practices and determine better and more efficient ways to serve our clients. This year has been especially challenging due to…
The Tax Cuts and Jobs Act Impact on Individuals
The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here’s a look at some of the more important elements of the new law that have…
Year-End Tax Planning
Keeping up with the complex credit landscape can be difficult for organizations with limited resources. The Tax Cuts and Jobs Act (TCJA) adds yet another another level of complexity to…
Hamilton Tharp is Recognized by CPAsNET for 10 Years of Membership
Cindy Acord recently attended CPAsNET’s 25th Annual Meeting in Chicago, Illinois. Hamilton Tharp is one of only 25 accounting practices in the nation selected as a member of the prestigious…
IRS Announces Major Changes to Form W-4 Postponed Until 2020
The Treasury Department and the IRS recently announced that they are delaying any major changes for Form W-4, based on feedback they received from the payroll and tax communities. Earlier…
The ABC’s of Small Business Organization & Taxation + New Trends in Divorce
Listen to Lana Pflaum, CPA (around minute 6) provide insight on this very important topic. Hamilton Tharp, LLP is proud to have been asked to be a part of this discussion. Congratulations…
12 Tips for Individuals Who Need to Reconstruct Records After a Disaster
Taxpayers who are victims of a disaster might need to reconstruct records to prove their loss. Doing this may be essential for tax purposes, getting federal assistance, or insurance reimbursement….
What the overturn of the physical presence standard means for your business
On June 21, 2018, The U.S. Supreme Court issued its highly anticipated decision in the South Dakota v. Wayfair case. The verdict, declaring that states can impose sales tax nexus…
Back-to-School Education Tax Credits
If you, your spouse or a dependent are heading off to college in the fall, some of your costs may save you money at tax time. You may be able…
New Employer Credit for Paid Family and Medical Leave
We wanted to make you aware of a valuable new tax credit made possible by the Tax Cuts and Jobs Act (TCJA). The credit is available to employers that provide…
Tips to Taxpayers Preparing for Hurricanes, Floods and Other Natural Disasters
With hurricane season in progress, we would like to remind individuals and businesses to safeguard their records against natural disasters with four simple steps. Create a Backup Set of Records…
Making a Family File
One of the most difficult things for a family to deal with after a loved one’s death is sorting through the endless paperwork needed to get the estate in order….
Understanding Your Cash Flow and Financial Statements
As a business owner, it is important to be able to read and understand the accounting terms found in your financial statements. Once you understand the basics of the financial…
5 Common Mistakes Your Tax Return May Reveal
What does your tax return say about your financial situation? The paperwork you file each year offers excellent information about how you are managing your money—and the areas where it…
IRS Sends Out Record Number of Letters to Verify Identity
The partners and professionals at Hamilton Tharp, LLP would like to remind our clients to watch for IRS notices and letters. With IRS scams and identity theft on the rise,…
Changes to Fringe Benefits, Entertainment Expenses
The tax reform legislation that Congress signed into law on December 22, 2017, was the largest change to the tax system in over 3 decades. The new tax code contains…
IRS Releases Updated Withholding Calculator and Form W-4
Have you noticed a slight jump in your paycheck recently? You’re not alone! Millions of Americans are receiving heftier paychecks due to the new tax law signed into law in…
Checking the Status of Your Tax Refund
Did you know taxpayers can check the status of their 2017 tax refund online? The “Where’s My Refund?” tool is available on irs.gov and through the IRS mobile app, IRS2GO….
Taxpayers Beware of Refund Scam
The Internal Revenue Service warns taxpayers of a new twist on an old scam in which criminals’ steal client data from tax professionals, file fraudulent tax returns and deposit the…
Employers Beware of Form W-2 Scam
The Internal Revenue Service, state tax agencies and the tax industry urges all employers to educate their payroll personnel about a Form W-2 phishing scam that made victims of hundreds…
Four Tax Credits That Can Mean a Refund for Eligible Taxpayers
Taxpayers might be eligible for a tax refund and don’t even know it! Below are four tax credits that can mean a refund for eligible taxpayers: Earned Income Tax Credit….
Taxpayer Guide to Identity Theft
We know identity theft is a frustrating process for victims. The IRS is taking this issue very seriously and continues to expand on their robust screening process to stop fraudulent…
2018 cost-of-living adjustments for various retirement plan dollar limits
The IRS recently announced the 2018 cost-of-living adjustments for various retirement plan dollar limits. The indexed amounts, and other commonly used limits, are listed below: 2018 2017 2016 IRAs IRA…
2018 Standard Mileage Rates Announced for Business, Charitable, Medical and Moving Purposes
The Internal Revenue Service recently issued the 2018 optional standard mileage rates to be used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving…
