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Tax Extensions- FAQ

Tax extensions

You may have to file for an extension on your taxes. Let’s take a look at some of the most frequently asked questions about extensions.

Your CPA tells you it’s best to ‘extend’ your tax return. What does that actually mean for you? The AICPA has provided a list of seven frequently asked questions and answers. Read more

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Contractors, Don’t Wait To Act On Revenue Recognition

By Jody Hillenbrand and Luis Torres

Jan. 1, 2019, is quickly approaching. For most privately held construction companies, this is the implementation deadline for the new revenue recognition standard, Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. The time to act is now, especially for contractors with projects lasting over 12 months. A contract that starts now, but extends into 2019, will be subject to the new standard.  Read more

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What Tax Reform Means For Healthcare Entities: For-Profit & Non-Profit

HEALTHCARE EntitiesOn Dec. 22, 2017, President Trump signed sweeping tax reform, formerly known as the Tax Cuts and Jobs Act, into law, marking the largest change to U.S. tax policy in decades.

What changes are coming for healthcare companies?

To help organizations navigate the issues most impactful and urgent to the healthcare industry, we’ve prepared a summary of the major implications based on the signed legislation. Read more

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How the New Tax Law Affects Rental Real Estate Owners

Rental Real Estate

Owners of rental real estate should be aware of the tax changes due to the new law.

Do you own residential or commercial rental real estate? The Tax Cuts and Jobs Act (TCJA) brings several important changes that owners of rental properties should understand.

In general, rental property owners will enjoy lower ordinary income tax rates and other favorable changes to the tax brackets for 2018 through 2025. In addition, the new tax law retains the existing tax rates for long-term capital gains. (See “Close-Up on Tax Rates” in the right-hand box.) Read more