It’s January and that means time to start thinking about those 2018 taxes! At this point, tax documents have probably started showing up in your mailbox. While it may seem like there is plenty of time, the sooner and more organized you can make your documents, the smoother the process will be.
Officials announced yesterday that the Trump administration has directed the Internal Revenue Service to issue tax refunds despite the ongoing government shutdown. Treasury Secretary Steven Mnunchin said that the administration will call back a significant number of I.R.S. employees from furlough to issue refunds, though they will not be paid until the shutdown ends. According to official statements, the I.R.S. plans to open the tax filing season on time and are anticipating that they will be able to answer 60 to 70 percent of phone calls seeking tax assistance.
The Tax Cuts and Job Act (The TCJA) has brought about many changes for both individual and business taxes. While some revisions and additional legislation may be on the way, below are five changes that may affect your business taxable income for 2018:
The Tax Cuts and Job Act (The TCJA) has brought about many changes for both individual and business taxes. While some revisions and additional legislation may be on the way, below are five changes that may affect your individual income tax liability in 2018:
This fall we are excited to announce our 2018 promotions. This year the firm promoted 14 team members.
Mission Pursues Good
Seattle’s Union Gospel Mission is a Christian organization with a mission to serve, rescue, and transform those in greatest need. By providing 24/7, 360-degree support services for homeless people in King County, the Mission seeks to be a consistent friend to those who are isolated and have lost hope.
Meet Tax Manager Kyle Lynch! Kyle started his career in 2012 and came to Sweeney Conrad in January of 2017- so this is his second busy season with the firm. Kyle describes himself as ambitious and says that he appreciates that same quality in his co-workers. What he loves about working at Sweeney Conrad is “the ability to work with a group of seasoned professionals who work hard in servicing some of the most multifaceted and complex clients in the Northwest.”
Good news in the tax world. It turns out you can have your cake, and deduct it too- at least if you are wining and dining a client. The Internal Revenue cleared up a bit of confusion recently, when the agency confirmed that companies can still deduct 50 percent of meals while entertaining clients and customers.
This month we checked in with our colleague, John O'Dore of Chinook Capital Advisors to discuss Quality Earnings Reports and their value in your overall financial picture.