Our CPA Blog

Topics that help our customers.

HERE’S HOW TAXPAYERS WITH CHILDREN CAN CHECK THEIR TAX WITHHOLDING-(PAYCHECK CHECKUP)…

Aug 20,2018 at 12:14 am

The Tax cuts and Jobs Act that was passed last year has many changes relating to child tax credit & personal exemptions that impacts your paycheck tax withholding.

Below are few useful tools offered by the Internal Revenue Service that taxpayers can use to check their monthly paycheck ...

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How meals and entertainment expenses will be taxed in 2018?

Aug 15,2018 at 02:38 am

 

The Tax Cuts and Jobs act has newer rules for deducting business meals and entertainment expenses. According to prior 2017 tax law, most meals and entertainment expenses were 50% deductible for tax purposes.

We have received many questions about how meals and entertainm...

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Deducting moving expenses in 2018

Jun 16,2018 at 11:12 pm

The latest tax reform  suspends the moving expense deduction

The new tax law suspends the moving expenses deduction for tax years beginning after December 31, 2017 and goes through January 1, 2026. During this timeframe, there is no deduction allowed for use of an automobi...

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Basic principles of the new revenue recognition standard

Mar 11,2018 at 05:03 pm

What is revenue recognition?

Revenue is one of the most important measures of financial performance in a business. Currently, US GAAP has complex, detailed revenue recognition requirements for specific industries and accounting transactions.  As a result, various industr...

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What is US GAAP and why its important for your business?

Mar 04,2018 at 05:12 pm

 

What is US GAAP - Generally accepted accounting principles?

 

US GAAP- Generall accepted accounting principles are set of accounting standards/principles adopted by the professional accounting industry.

These accounting standards, rules are establi...

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