Tax deduction

Last Minute Tax Saving Strategy for 2017

President Trump’s goal is to sign a new tax bill into law by Christmas 2017. It appears many changes to our current tax law are inevitable. Both the Senate and the House of Representatives plans will remove the state and local income tax deduction from federal itemized deduction

Having Two Sets of Books

Did you realize that some companies actually utilize two sets of books? Companies often have a set of books for income taxes and one to comply with Generally Accepted Accounting Principles (GAAP). There are numerous differences that exist between accounting for income taxes and GAAP.

Changes for Not-For-Profits Financial Statements

During August of 2016, the Financial Accounting Standards Board (FASB) issued an update relating to standards that govern the financial statements of Not-For-Profit entities. The update becomes effective for all entities whose fiscal year begins after December 31, 2017 for annual fina

Changes to FAFSA for 2017-2018 School Year

There have been recent changes to the FAFSA (Free Application for Federal Student Aid) starting with the 2017-2018 school year. One of the changes put into place is the reporting of parents and/or student income a year earlier. For example, for the 2017-2018 school year, the FAFSA for

Missouri Tax Credits

Are you facing a large Missouri tax liability this year? Does paying 6% less seem too good to be true? It is possible and easier than you think. We currently have hundreds of clients utilizing these credits to save thousands of dollars in Missouri taxes. We have obtained Missouri tax