Brady Ware News

4 Year-End Strategies to Lower Your Personal Tax Bill

4 Year-End Strategies to Lower Your Personal Tax Bill The countdown to year end has begun. Have you positioned yourself to minimize your 2018 tax bill? The Tax Cuts and Jobs Act (TCJA) made sweeping changes to the federal tax laws that will affect virtually all individual taxpayers — and most of those changes went…

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Major Changes to Revenue Recognition

The Way Technology Companies Recognize Revenue is About to Change Significantly by Andrew Walker, CPA For many technology entities, top line revenue is one of the most important metrics for both business owners and investors. Murky guidance and lack of comparability with international reporting has long been a complaint from the readers of financial statements….

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Proper PFIC Reporting

IRS Advises Taxpayer on Verifying Proper PFIC Reporting In an Information Letter, the IRS has advised a taxpayer, who sold his interest in a passive foreign investment company (PFIC), on the steps to take to verify that he’d properly reported his PFIC transaction and, presumably, determine whether he’s due a refund. PFIC rules were enacted…

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Too Much Tax Deferral?

Can You Have Too Much Tax Deferral? Taking steps to defer your individual federal income tax bill is often a good idea. If you expect to be in the same tax bracket in future years, lowering this year’s taxable income will postpone your tax bill and give you extra cash to work with until the…

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MEPs for Small Businesses

Small Employers: Should You Jump on the MEP Bandwagon? Today, approximately 38 million private-sector employees in the United States lack access to a retirement savings plan through their employers. However, momentum is building in Washington, D.C., to remedy this situation by helping small employers take advantage of multiple employer defined contribution plans (MEPs). Could a…

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