Families will often attempt to file their own tax returns hoping to save a little cash, but this could be more harmful than helpful to your valuable assets. Too often, we see drastically low refunds given to individuals who weren’t familiar with complicated tax laws and deductions. Consulting a professional to review your taxes offers…
New rules take effect in 2016 On October 30, 2015, after three and a half years of proposals, comments, and discussion, the Securities and Exchange Commission (SEC) announced its final rules on equity crowdfunding for small businesses. The forms that funding portals use to register with the SEC became effective on January 29, 2016, while…
At H&J CPAs, we are witnessing nonprofit campaigns benefit from crowdfunding in an explosive way. Typically conducted online, crowdfunding provides ease of networking to raise many small donations from a large number of supporters. Taking advantage of this fundraising method provides invaluable financial and promotional assistance: Spread the word of your campaign to a broader…
A smooth tax season for small businesses can only be achieved with the proper advanced preparations. By maintaining routine techniques throughout the year and setting up your finances at year-end, you can save yourself from excessive time, errors, and hassle come April. Organize your 2015 paperwork and arrange for a painless 2016 by following these…
With the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in our lives. It is also a time when charitable giving often comes to mind. The tax benefits associated with charitable giving could potentially enhance your ability to give and should…
When it comes to handling finances, we see many families that want to organize their funds in the most beneficial way possible, especially those planning for disability expenses. In December, 2014, the Achieving a Better Life Experience Act, or ABLE Act, became a federal law in order to improve the lives of people with disabilities. The…
When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated. For those who expected to use those strategies to boost their retirement income, here are a few answers that could help determine how the new rules might affect them. What’s…
The definition of property is pivotal in any valuation. The valuation is essentially an economic quantification of the bundle of rights that are either held or transferred in connection with the valuation project. The state law that governs the property in question, however, sets the bundle of rights to be considered. As such, they are…
On November 2, 2015, President Obama signed into law the Bipartisan Budget Act of 2015, legislation that raises the federal debt limit and establishes the framework for a two-year budget deal. The legislation, needed to avoid an impending default on U.S. debt, also contains multiple unrelated provisions, including an elimination of two Social Security retirement…
Every year the College Board releases its annual Trends in College Pricing report that highlights current college costs and trends. While costs can vary significantly depending on the region and college, the College Board publishes average cost figures, which are based on its survey of nearly 4,000 colleges across the country. Following are cost highlights…