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25
Apr
2017

Do You Know The Tax Implications Of Your C Corp.’s Buy-Sell Agreement?

25.04.2017

Private companies with more than one owner should have a buy-sell agreement to spell out how ownership shares will change hands should an owner depart. For businesses structured as C corporations, the agreements also have significant tax implications that are important to understand. Buy-sell basics A buy-sell agreement sets up parameters for the transfer of

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18
Apr
2017

Individual Tax Calendar: Key Deadlines For The Remainder Of 2017

18.04.2017

While April 15 (April 18 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that are important to be aware of. To help you make sure you don’t miss any important 2017 deadlines, here’s a look at when some key tax-related forms, payments

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5
Apr
2017

Saving Tax With Home-Related Deductions And Exclusions

5.04.2017

Currently, home ownership comes with many tax-saving opportunities. Consider both deductions and exclusions when you’re filing your 2016 return and tax planning for 2017: Property tax deduction. Property tax is generally fully deductible — unless you’re subject to the alternative minimum tax (AMT). Mortgage interest deduction. You generally can deduct interest on up to a

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28
Mar
2017

2017 Q2 Tax Calendar: Key Deadlines For Businesses And Other Employers

28.03.2017

Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. April

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24
Mar
2017

Brown Edwards 50th Anniversary

24.03.2017

In 1967, two small accounting firms – one in Bluefield, West Virginia and the other in Roanoke, Virginia – had an idea:  come together to form a firm that would, from the start, make the success of clients its number one focus. Over the next 50 years, that outstanding formula helped Brown Edwards grow into one

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21
Mar
2017

Who Can — And Who Should — Take The American Opportunity Credit?

21.03.2017

If you have a child in college, you may be eligible to claim the American Opportunity credit on your 2016 income tax return. If, however, your income is too high, you won’t qualify for the credit — but your child might. There’s one potential downside: If your dependent child claims the credit, you must forgo

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14
Mar
2017

2016 IRA Contributions — It’s Not Too Late!

14.03.2017

Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016 tax bill. But even if it isn’t, making a 2016 contribution is likely a good idea. Benefits beyond a deduction Tax-advantaged retirement plans like IRAs

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8
Mar
2017

When An Elderly Parent Might Qualify As Your Dependent

8.03.2017

It’s not uncommon for adult children to help support their aging parents. If you’re in this position, you might qualify for the adult-dependent exemption. It allows eligible taxpayers to deduct up to $4,050 for each adult dependent claimed on their 2016 tax return. Basic qualifications For you to qualify for the adult-dependent exemption, in most

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14
Feb
2017

Do You Need To File A 2016 Gift Tax Return By April 18?

14.02.2017

Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate planning strategy. Or perhaps you just wanted to provide loved ones with some helpful financial support. Regardless of the reason for making a gift, it’s important to know under what circumstances you’re required to file

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