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Category: Profit Margins

How Will the 2020 Form W-4 Impact Income Tax Withholding?

The Internal Revenue Service (IRS) has released another preview of Form W-4 to the public. The new design aims to simplify the withholding system, replacing complicated worksheets with questions designed for the layman. The hope is that the form will help employees report more accurate amounts, allowing the IRS a better assessment of taxes paid. […]

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Year-End Tax Planning: The Most Popular Tax Credits for 2019

Whether you are an individual taxpayer or a small business owner, understanding your eligibility for tax credits is an essential facet of income tax planning. Unlike deductions, which only reduce taxes owed by the product of the amount of your deductions multiplied by your marginal tax rate, tax credits provide dollar-for-dollar tax reduction. The following […]

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IRS Issues Further Opportunity Zone Regulations Guidance

The Qualified Opportunity Zone Program will only work if investors can confidently follow the breadcrumbs to their prize. Regulatory confusion has kept many investors paralyzed in uncertainty. In the update below, we provide an overview of the highly sought-after guidance, which was released by the Internal Revenue Service (IRS) and the US Treasury Department on […]

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SECURE Act Most Important Update to Retirement in Over a Decade

Americans share at least one dilemma when it comes to retirement planning. From the worker to the employer to the policymaker, everyone is living longer. On May 23, 2019, the House passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act. This legislation, receiving almost unanimous bipartisan support, offers the most significant shift to […]

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FASB Issues Update to Fair Value

The Financial Accounting Standards Board (FASB) recently issued an Accounting Standards Update (ASU) to clarify implementation guidance and disclosure requirements in leases standard. The update addresses two lessor implementation issues and designates lessees and lessors exempt from a specific interim disclosure requirement associated with adopting the new leases standard. In 2016, FASB released updated guidance […]

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