Section 529 College Savings Plans – Are they worth the hassle?

529 plans became popular years and years ago. For many parents (and grandparents/others too!), they’re a great way to save back some tuition money for kids, in preparation for that ever increasing college cost. 529 plans grow tax free, and when the money is taken out of the account for higher education purposes, it is… Read More

2018 W-4 Has Arrived

The Internal Revenue Service has released the updated Form W-4 (here) for 2018. Along with the W-4, they have released an updated Withholding Calculator to help taxpayers check their 2018 tax withholding following the Tax Cuts and Jobs Act that was passed in December 2017. Changes to the tax law were made with the Tax Cuts… Read More

New Payroll Withholding Tables Released

The Internal Revenue Service has released updates to the income tax withholding tables for 2018 which reflect the changes made by the recent tax reform. Their goal was to design the new withholding tables to work with the Form W-4’s that employees have already filed with their employers. The new payroll withholding tables can be… Read More

Why Gross Vehicle Weight Matters For Depreciation Purposes

For the 2017 tax year the Federal Section 179 depreciation deduction limit is now at $500,000, it is easy to think that any fixed asset classified as personal property can now be expensed.  However, in the year of purchase, it is important to remember the depreciation limits on passenger automobiles and trucks.  A passenger automobile… Read More

Do I need to fill out a new W-4 due to tax reform?

With tax reform taking place, a big question that is getting asked is “Do I need to be filling out a new W-4 to reflect the changes?” A statement was put out by the IRS stating that they are working on developing withholding guidance and will be issuing this in January. Employers will be encouraged… Read More