Our Blog

2018 HSA limits announced

The IRS recently announced the 2018 inflation-adjusted limits for health savings accounts. For 2018, taxpayers can contribute up to $3,450 (up from $3,400 in 2017) for single coverage, or up to $6,900 (up from $6,750 in 2017) for family coverage. The ...
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Reminder: Second quarter estimated tax payments are due June 15

June 15, 2017, is the due date for making your second installment of 2017 individual estimated tax. Your check to the United States Treasury should be accompanied by Form 1040-ES. June 15 is also the due date for calendar-year corporations ...
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Summer business tip

Summer is a good time to do business entertaining. Normally, deductions for business entertainment and meals are limited to 50 percent of the expenses. However, you can write off 100 percent of the cost of a company picnic or other ...
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Single people have financial considerations that differ from those who are married. But this doesn’t mean they should overlook financial planning

Whether you are a lifelong single person or you found yourself single through divorce or the death of your spouse, you have your own financial considerations and complications. Unfortunately, many single people overlook financial planning. Don't make this costly mistake. Financial ...
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 Service charges vs. tips

  Remember, service charges do not receive the same tax treatment as tips. Service charges are non-tip wages, and employers must treat them as such for tax withholding and filing requirements. Tips are payments made to employees by customers at the ...
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Two facts about your chances of being audited

Your chances of being audited are probably lower than you think. A look at the latest IRS statistics for 2016 reveals two interesting and reassuring facts about the risk of an IRS audit. One of these facts is that audits are ...
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Don’t Make an expensive mistake with your IRA

Simple mistakes on your IRA can cost you dearly. Perhaps you accidentally doubled up on your IRA contribution for 2016. Did you forget to take your required minimum distribution and then notice the oversight when you were gathering the information ...
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2016 Earned Income Tax Credit Refund Delays

The IRS will begin to release EITC/ACTC refunds starting Feb. 15. However, the IRS cautions taxpayers that these refunds likely won’t arrive in bank accounts or debit cards until the week of February 27. Read more about refund timing for ...
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FLUGGE CPA’S VIEW ON PAYING TAXES

        Judge Learned Hand Wrote: "Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury.  There is not even a patriotic duty to increase ...
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Be aware of these four IRA rules

If you have an individual retirement account, you're aware of how complicated the rules can get. Here are four to remember as you prepare your 2015 federal income tax return. 1. Are you searching for one more tax deduction? It's not ...
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