BA Harris LLP

Feeling Charitable?

Published on Tuesday, July 10, 2018

With tax reform changes in effect in 2018, deductions for charitable giving just got a bit more complicated. The increase in the standard deduction to $24,000 for Married Filing Joint returns and $12,000 for Single filers means that charitable donations might not result in a taxable deduction as they have in the past. That is because the sum of all itemized deductions on Schedule A of Form 1040 will need to exceed the $24,000 threshold before any extra tax benefit is realized. While the $24,000 is an increased benefit to most taxpayers, it makes traditional charitable giving less attractive tax-wise if a taxpayer is unlikely to exceed the standard deduction. However, there are a couple of options that can maximize the tax benefits of giving under the new tax regime.   Read More...

Second Quarter Estimated Tax Payments

Published on Friday, June 08, 2018

With summer knocking on the door we just wanted to remind estimated tax payers your second quarterly payment is due next Friday, June 15th. If you have any questions, don’t hesitate to contact our office. Read More...

Home Equity Interest - Deductible?

Published on Wednesday, May 09, 2018

For many taxpayers, Home Equity Loans and HELOCs, are useful financial tools for easily accessible cash at interest rates that are typically lower than most commercially available credit cards.  Due to their low interest rates, Home Equity Loans have been an enticing option for taxpayers looking to consolidate debt into a single, low cost payment, while also reaping additional beneficial tax treatment. Read More...

Informational Return Filing Requirements

Published on Friday, January 19, 2018

W-2, W-3, and 1099-Misc information returns Read More...

Auto Fringe Benefits: does a company car make sense?

Published on Friday, January 12, 2018

Auto Fringe Benefits: does a company car make sense? Read More...