January 6, 2015
It is hard to believe that 2014 has come and gone. Undoubtedly, as I get older, the years seem to go by at a much faster pace!
2015 promises to be a year of challenges and excitement. Much is changing in the world of accounting and taxes, and we will all feel the effects of these changes as we prepare our 2014 taxes. Don't delay the preparation of your tax return until the last minute....you may be surprised by some of the new filing requirements. Of course, let us know if you need assistance with your preparation!
Much has changed here at Foltz & Associates as well. We've adopted completely new industry specific technology firm-wide. This new technology brings with it a host of benefits to allow us to serve you better, more efficiently, and most of all, more collaboratively.
Foltz & Associates has also gained a new CPA! Barbara Wengstrom joined us on January 5th. Barbara is a seasoned accountant specializing in taxation and accounting and I am sure once you meet her you will also realize that her arrival was long overdue! Welcome aboard, Barbara!
Stay tuned to our brand new website for updated information. We absolutley love the new layout of the site and know that it will serve us well as we work with you in the coming years.
Do I still have enough to itemize?
Since before I can remember, taxpayers have had the option of reducing their income (to arrive at taxable income) by using either the standard deduction or itemized deductions. It was the one place on the tax return where most folks felt like the IRS granted them a little bit of favor…because you got to deduct whichever...
What’s going on with my exemptions under the Tax Cuts and Jobs Act (TCJA)?
Under the former law, which of course applies to the tax returns being filed for 2017, taxpayers can claim a personal exemption for themselves, their spouse (if filing jointly) and each qualifying child or relative. Each of these exemptions allowed taxpayers to reduce their taxable income by...
As we all know (if you don’t, I’m not sure what rock you’ve been sleeping under), Congress presented and the President signed in to law the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. This law amends the Internal Revenue Code of 1986.
This new law affects us all. No taxpaying person in the United States will escape these changes. For some of...