With the Tax Cuts and Jobs Act (TCJA) and now the Economic Nexux (EN), there is quite a lot to keep up with in the tax world. If you are not familiar with the Economic Nexus, the Economic Nexus (EN) is a tax obligation imposed on companies that is based entirely on sales revenue, transaction [...]
The Tax Cuts and Jobs Act (TCJA) was passed by Congress in a hurry late last year, and the IRS and tax preparers have been working to digest some of the more thorny issues created by the tax overhaul. Here are the latest answers to some of the most common questions: Is home equity interest [...]
Though many taxpayers appreciate the income tax cuts in the Tax Cuts and Jobs Act (TCJA) passed late last year, others are skeptical that it will simplify their tax planning. With every simplification, there are many more tax issues that still require planning to realize extra tax benefits. Here are seven of them: Planning for [...]
Congress passed a federal budget bill in early February that revived dozens of expired tax breaks for the 2017 tax year. They include a deduction for education expenses as well as several tax breaks for homeowners. If you have not yet filed your 2017 tax return, please be aware these late changes are retroactive to [...]
Well everyone…. after months of hearing about it, the President signed into law The Tax Cuts and Jobs Act on Friday. (More commonly know as the Tax Reform Bill.) There are many provisions of this bill to cover, however, I just want to focus on a few things to get done before the end of [...]
When working on an income tax return it is very important to consider all of the tax incentive programs that Nebraska has to offer a small business to use. Our job as accountants is to consider these when working on small business taxes & bookkeeping so our clients get the maximum tax advantage. Many of [...]
The Microenterprise Tax Credit Administration allows small Nebraska businesses of five (5) or fewer full-time equivalent (FTE) employees, to apply for a refundable credit up to $10,000 just for investing up to $50,000 into their business. The investment can vary from something as simple as hiring a new employee, raises for an existing employee, new [...]
If you’re a small-business owner who’s looking for help expanding the state of Nebraska has a program that can relieve some of the short-term burden of adding employees. The microenterprise business tax credit is available for all small Nebraska businesses with 5 or fewer full-time equivalent employees. Owners don’t count against the employee ceiling. [...]
