BA Harris LLP

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...

Per Diem Rules

Published on Thursday, December 14, 2017

If you or your employees travel for business, it might be beneficial to implement a qualified per diem plan. Rather than reimbursing for actual expenses, an employer can provide a per diem amount based on IRS approved rates. One of the major benefits of the per diem method is the more lenient recordkeeping – employees typically are not required to keep receipts. Instead, a company simply pays the allowance to the employee. In addition, qualified per diem reimbursements generally are not subject to income or payroll tax withholding and are not reported on an employee’s W-2. It is also a good way to control travel and entertainment expenses. Read More...

Idaho IDeal Contribution Limits Have Increased!

Published on Thursday, November 30, 2017

Beginning January 1, 2017 the Idaho state deduction for contributions to an Idaho IDeal plan has increased from $4,000 to $6,000 ($8,000 to $12,000 if married filing jointly). If you have any questions on this Idaho tax deduction please do not hesitate to reach out to any of our knowledgeable staff. Read More...