Per Diem Rate for Truckers

Notice 2018-77 just released the new 2018-2019 special per diem rates for those in the transportation industry. The new meal and incidental expenses (M&IE) rates for truckers is $66 per day. This is up from 2017 where the rate was $63 per day. The new rate is in effect for meals on or after October… Read More

A Taste of Taxes in Texas

In June, I had the opportunity to attend a three-day conference hosted by the National Restaurant Association for financial officers and tax executives in San Antonio, Texas. The first day of the conference focused on the restaurant industries trends and showed us how to have constructive engagement through awareness windows to become better leaders. The… Read More

How Do I Start A Business?

So you’ve done your research, you have your business plan and finances figured out. What’s the next step in starting your own business? Next up is choosing a business entity. You have several options to choose from and they include: a sole proprietorship, a limited liability company (LLC), a partnership, or a corporation. The structure… Read More

Health Savings Account Limits Increase for 2018

For 2018, the annual limit on deductible contributions is $3,450 for self-only coverage (up from $3,400 in 2017) and $6,900 for family coverage (up from $6,750 in 2017). There is an additional HSA catch-up contribution if age 55 or older of $1,000. The minimum annual deductible for self-only coverage is $1,350 (up from $1,300 in… Read More

Standard Mileage Rate Drops for 2017

Beginning Jan. 1, 2017 the standard mileage rates will be: 53.5 cents per mile for business miles driven (down from 54 cents per mile in 2016) 17 cents per mile for medical or moving purposes (down from 19 cents per mile in 2016) 14 cents per mile for charitable organizations

College in Fall of 2017?

Do you have a child going off to college in the fall of 2017? Be aware they are making the application for FAFSA available to you October 1st and you will be using your 2015 tax information for students applying for the 2017-18 school year. These changes should help prevent the scramble in the spring… Read More

Do I have to pay taxes if I have Nanny?

Hiring a nanny can have a positive impact on your life, but you also need to keep in mind that it will have an impact on your finances, as well. You will be expected to pay a mix of taxes on top of the salary you pay them. This is referred to as the “nanny… Read More