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How to Plan for Potential Tax Changes

As President-elect Donald Trump continues to fill cabinet positions, more and more information is emerging regarding policies and plans. Among the most eagerly anticipated are the details on the plans the Trump administration has for tax reform. While nothing is set in stone, and many changes may not go into effect until 2018 or later, […]

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What Tax Changes Can We Expect from President Trump?

The unexpected victory of Donald Trump in the 2016 Presidential election has experts scrambling to review his proposed changes to the federal tax laws. While nobody can predict with complete accuracy what adjustments Trump will attempt to make as President, or what Congress will agree to consider, a look at some of the ideas he

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Before You Hand Out Those Holiday Turkeys…

With the holiday season rapidly approaching, now is the time many employers are addressing any seasonal gifts or bonuses they will be giving employees. You should be aware that the type and size of gift you give can affect both the company’s ability to deduct the cost, and the employee’s compensation liability for taxes. Let’s

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Ho, Ho, Hold it! Be Careful How You Deduct those Holiday Gifts

Have you started your holiday shopping yet? If you are a business that promotes itself by giving holiday gifts to clients or vendors, the tax law has some very Grinch-like rules about deducting the cost of the gifts you give during the holidays, or at any other time of year. The IRS publication 463 explains

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What is an IC-DISC and How Could It Save You Tax Dollars?

By Derek B. Rawls, CPA, MSTGray, Gray & Gray, LLP American companies exporting goods – and certain services – may be able to enjoy significant federal income tax savings through a little-known instrument known as an interest charge domestic international sales corporation (IC-DISC). You do not need to be a huge exporter to take advantage

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