HOW TO CHOOSE A TAX PREPARER

With the Tax Cuts and Jobs Act of 2017 now signed into law by President Trump, three questions people are asking are: How does this tax law affect me? Will the tax law change my 2017 Taxes? Will I be able to prepare my own tax return considering my circumstances? Even without the new tax…

DOES YOUR SOFTWARE SUIT YOUR NEEDS?

HANDLE FINANCIAL COMPLEXITIES AND GROWTH WITH TRUE FUND ACCOUNTING™ SOFTWARE A true fund accounting system, Abila MIP Advance™ enables nonprofit organizations and municipalities to boost fiscal stability and manage ever-increasing financial complexities with ease and confidence. By combining the time-tested Abila MIP platform with a modern, yet familiar user experience, powerful dashboard tools, and seamless…

EDUCATION CREDITS AND DEDUCTIONS

QUALIFIED EDUCATION EXPENSES AND 529 PLANS Think all distributions from earnings from 529 plans are tax free because you used them all for educational expenses? — Think Again! There are certain instances where that is not true.  Are you utilizing the American Opportunity or Lifetime Learning Credit?  Did you take a tuition deduction?  Are you relying on the…

POST TAX SEASON OBSERVATIONS

Now that “Tax Season” is substantially over perhaps it is appropriate to offer some ideas on what he can do to improve the nation’s tax system and the Internal Revenue Service. As a CPA for over 40 years I believe I am qualified to say unequivocally that our tax system is a convoluted set of…