Congress Proposes the Online Sales Simplicity and Small Business Relief Act...
South Dakota v. Wayfair (“Wayfair”) has made sales tax collection on remote sellers a widely discussed topic. Although the case has been decided, many are still waiting to see what actions each...
View ArticleTax Reform for Individuals: Kiddie Tax Changes
If you have a savings account, CD or other investment account in your child’s name, this is considered unearned income for your child. This type of net unearned income is subject to a “kiddie tax”,...
View ArticleGeneral Newsletter October 2018
Ensure Your Company is Protected During Cyber Security Awareness Month in October October is National Cyber Security Awareness Month (NCSAM) – a time to check in on your online safety and security....
View ArticleTax Reform: Qualified Opportunity Zone Incentives for Low Income Communities
With the passage of the Tax Cuts and Jobs Act, there is a new section on Qualified Opportunity Zones, a tax incentive that encourages investments in low-income communities. Below are the details on the...
View ArticleFiscal-year Corporations Subject to Blended Tax Rates Following Tax Reform
The new 21% corporate tax rate allows C corporations to pay federal taxes at a significantly lower tax rate than the 35% top rate in prior years. While the new tax rate took effect beginning in 2018,...
View ArticleTax Reform: Qualified Improvement Property, Bonus Depreciation and Section...
With the passage of the Tax Cuts and Jobs Act, there are now more tax benefits and simplification for lessees and building owners through changes to Qualified Improvement Property, bonus depreciation...
View ArticleGeneral Newsletter November 2018
How the New Revenue Recognition Standard Will Impact Manufacturers The new revenue recognition standard includes important provisions that manufacturers need to be aware of. Effective 1/1/2019 for...
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States Resisting Updated Federal Estate Tax Exemption Following Tax Reform
One of the many Tax Cuts and Jobs Act (TCJA) changes adopted when filing 2018 taxes is the new estate tax exemption. The estate tax is a tax on an individual’s right to transfer property at death and...
View ArticleSwitching CPA Firms: How to Move on to the Service You Deserve
People often fret about changing CPAs or professional service providers because change alone can bring forth fear, anxiety and self-doubt. This often paralyzes people into taking no action at all even...
View ArticleGeneral Newsletter December 2018
Anders Ranks #5 on Accounting Today’s Best Midsized Firms to Work For List Anders has been ranked #5 of 46 on Accounting Today’s 2018 Best Midsized Firms to Work For list. Each year, Accounting Today...
View Article2018 Year-End Tax Planning Strategies
The Tax Cuts and Jobs Act that was enacted last December topples conventional tax planning strategies and changes the familiarity for this year’s tax filing season. Below is a brief review of some of...
View ArticleTax Reform for Individuals: Child Tax Credit Changes
Parents and taxpayers with dependent children can take advantage of the increased benefits of the Child Tax Credit under tax reform. With new changes in effect, this tax credit has been enhanced and...
View ArticleTax Reform for Businesses: Cash vs. Accrual Method of Accounting
Many small businesses are rethinking their current method of accounting due to the Tax Cuts and Jobs Act (TCJA). The new tax law increased the gross receipts ceiling for cash basis accounting, causing...
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Tax Reform: State Depreciation Changes
Building owners and lessees will be impacted by several changes made to depreciation rules under the Tax Cuts and Jobs Act (TCJA). Two of the main changes affect Section 179 expensing and Section 168...
View Article2019 Tax Pocket Guide
Access the 2019 Anders Tax Pocket Guide for this year’s corporate and individual tax rates, retirement plan contribution limits and more, including: Estate tax and lifetime gift tax exemption increase...
View Article2019 Social Security Benefits, Nanny Tax Threshold and New-Hire Reporting...
Annual Payroll and Withholding Update Part 2 of 5 The social security annual earnings limit is increasing this year for those who have not reached full retirement age, and also for those who have. The...
View Article2019 Exemptions, Allowances and Penalties for Employees
Annual Payroll and Withholding Update Part 4 of 5 Part 4 of our Annual Payroll and Withholding Update outlines information employees need to know in 2019, including Form W-4 expiration, Missouri W-4...
View Article2019 Mileage Rate, Minimum Wage and 401(k) Limit Updates
Annual Payroll and Withholding Update Part 1 of 5 In 2019, Missouri employers will see a $0.75 minimum wage increase, while Illinois minimum wage remains $8.25. Mileage rate, minimum wage amounts and...
View Article2019 Unemployment Tax, Deposits, EFTPS and Earned Income Tax Credit
Annual Payroll and Withholding Update Part 5 of 5 Part 5 of the 2019 Payroll and Withholding Update provides information employers need to know about federal and state unemployment tax, tax deposits,...
View Article2019 Withholdings for Social Security, Medicare and Pensions
Annual Payroll and Withholding Update Part 3 of 5 Part 3 of the Anders Annual Payroll and Withholding Update outlines social security tax withholding, additional Medicare tax withholding, and pension...
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