When Holiday Gifts and Parties are Deductible or Taxable
The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s [...]
Estimates vs. Actuals: Was Your 2018 Budget Reasonable?
As the year winds down, business owners can be thankful for the gift of perspective (among other things, we hope). Assuming you created a budget for the calendar year, you should now be able to [...]
Catch-Up Retirement Plan Contributions Can be Particularly Advantageous Post-TCJA
Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual [...]
Tax Reform Expands Availability of Cash Accounting
Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater tax-planning flexibility, allowing some businesses [...]
It’s Not Too Late: You Can Still Set Up a Retirement Plan for 2018
If most of your money is tied up in your business, retirement can be a challenge. So if you haven’t already set up a tax-advantaged retirement plan, consider doing so this year. There’s still time [...]
Mutual Funds: Handle with Care at Year End
As we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips. Avoid surprise [...]
Happy Thanksgiving from the Linkenheimer Team
With the holidays here, we wanted to take a minute to let our clients, friends and community know how grateful we are for you. In this season of thanks, we have many things to be grateful for. [...]
Time for NQDC Plan Deferral Elections
If you’re an executive or other key employee, your employer may offer you a nonqualified deferred compensation (NQDC) plan. As the name suggests, NQDC plans pay employees in the future for services currently performed. The [...]
California Tax News Related to Wildfires
Tax relief is available for California employers in counties hit by recent wildfires. The CA Employment Development Dept. (EDD) has announced that employers in Butte, Los Angeles and Ventura counties directly affected by the Camp, [...]
Buy Business Assets Before Year End to Reduce Your 2018 Tax Liability
The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them [...]