The 2018 tax year will mark the first year subject to the changes in effect from the Tax Cuts and Jobs Act (TCJA). We have compiled a list of potential planning strategies that may benefit you or your family. We have placed a special emphasis on strategies connected to changes from the TCJA. We encourage…

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This is the seventh installment of our monthly tax blog on the Tax Cuts and Jobs Act. In our third installment we provided an overview of the deduction. The fifth installment provided more detail for deductions on rental property income. If you are a business owner, you have likely heard about QBI and wondered, “Will…

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ISLER CPA, a leading regional provider of audit, tax and consulting services focused on privately held companies and individuals, is pleased to announce that Horsfall & Fipps, PC is joining forces with ISLER CPA. ISLER CPA will acquire substantially all their assets, with the transaction expected to close by October 31, 2018, pending customary closing…

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This is our fifth installment of our monthly tax blog about the Tax Cuts and Jobs Act. This blog will revisit a topic discussed in our third installment, however this blog post will focus on how the Qualified Business Deduction affects specifically rental properties. General Overview of Qualified Business Income Deduction The Qualified Business Income…

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This is the third installment of our monthly tax blog about the Tax Cuts and Jobs Act. In our two previous posts, we discussed changes to individual tax rates, exemptions, the standard deduction, and itemized deductions. In this post, we will conduct an overview of the Section 199A deduction, which is also known as the…

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This summer, parents are increasingly looking forward to the day their kids will be out of the house, but dreading the cost of their new residence: college.  As you consider college saving plan options, consider the two most common tax favored savings tools available: the Coverdell Education Savings Accounts and 529 Plan accounts.  The Coverdell…

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The U.S. Supreme Court has issued its highly anticipated decision in South Dakota v. Wayfair, overruling Quill’s decades old physical presence sales tax nexus standard. This decision will have significant implications for almost all industries, but especially consumer products (retailers) and industrial products. This case dealt with whether a state has the authority to require…

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