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HelferBell, Here Are Your Articles for Wednesday, September 26, 2018
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Saved Articles
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The changes made by the Tax Cut and Jobs Act of 2017 affected law firms just like many other businesses. Click through for some special tax tips and to better understand the rules that affect law firms.
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Many people work at home in the age of the telecommuter. Do you fall into that category? Have the rules changed? What are the limitations? Click through for an introduction to this valuable but complicated tax break.
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The tax laws regarding household employees — like a nanny or housekeeper — can be fairly complex. Click through to make sure you're in compliance with IRS rules.
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Life insurance is a good investment for your family, but how do you know when you have enough? Click through to see how much you really need to ensure your family will be financially stable in the future.
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This has been one of the biggest years for tax changes in recent memory. The IRS is still issuing guidance, with more expected. Click through for a summary of the most significant changes that may affect you as April 15 approaches.
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When you think about fighting fraud, you may consider hiring financial experts to help -- that's great, but it's not all! Click through to see why your first step should include everyday practices to discover whether your firm is experiencing fraud.
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Many people get Social Security, but not everyone manages it the same way. It can be confusing to sift through the choices, which have major implications. Click through for some thoughts on what your options are.
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Although the new Form W-4 differs greatly from the previous version, it is almost the same as the draft version released earlier in 2019. Click through for a quick rundown of how the form works and where you can go for more details.
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If you want to ensure that your children are left with your home after you pass away, there are certain steps you need to take. Click through to learn the details.
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There's no such thing as simple life insurance. To protect your loved ones, you have to sort through a bewildering array of choices. Click through for some insights into what's available, and what might be right for you.
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You’ve opened the mail and your heart sinks. Your business just received an audit notification from the IRS. Click through to learn how to keep your cool and prepare for what happens next.
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Cost-of-living adjustments are affecting dollar limits for 401(k) plans, individual retirement accounts and other retirement plans. These changes affect both individuals and the businesses that manage company-sponsored plans. Click through to learn how the changes may affect you.
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As 2019 drew to a close, the IRS issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for various purposes. Click through to see how the new rates may affect you.
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If you're self-employed or have income other than a salary, you may need to pay estimated taxes to square your tax bill throughout the year. Click through to see whether you need to make estimated tax payments every quarter.
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If you have an investment property, you might be eligible to reap the benefits of a 1031 exchange. Click through to learn how this tax code loophole may be able to save you money on capital gains taxes and more.
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A 1099 tax form is a record that someone was paid non-salary income. It comes in multiple versions, and there's a good chance you'll be dealing with one or more of them each tax season. Click through for a rundown of how they work.
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You've built a business, but you may not even know what it's worth. This can have serious implications, even if selling is not on the horizon. Click through to find out why a valuation is essential.
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A recent study showed that when 401(k) plans are offered, about 90 percent of all employees who have the option to contribute do so. There is, however, an important difference between pre-tax and after-tax contributions. Click through to learn about this key distinction.
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Thinking of starting a pension plan for your small-business employees? The federal government may help with the costs for companies that meet certain criteria. Click through to learn how to claim a tax credit for the startup costs.
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There is no lack of options when it comes to insurance for your small business. Not every business needs every kind, but you should know what's available. Click through to get started thinking about business insurance.
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Know what tax information to keep and how long to keep it, to both avoid future hassles with the IRS and save on file cabinet space. Click through to learn the details of what the IRS may want to see in the event of an audit down the line.
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Tax reform laws changed various expensing rules, as the IRS explained in guidance updated at the end of 2018. Click through to make sure your business is in sync with the regs, so you're not leaving any money on the table.
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The most common form of identity theft these days is synthetic identity theft. If that sounds ominous to you, you're right to be scared. Click through to find out about this new twist on fraud and how to spot it.
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You can divide bank and brokerage accounts among multiple heirs. But how do you divide a watch inherited from your great-grandfather? Or the earrings your mother received when she turned 21? Click through for some inheritance advice.
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You can get dizzy trying to figure out the state of tax credits, and energy credits in particular, as the government keeps letting them expire, only to revive them at the last minute. Click through for the latest news.
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Identity theft of children's information is a very real and growing problem. You can help protect your child's identity by securing documents and understanding the new FERPA legislation. Click through to learn how to stay safe.
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Investing solely because of a focus on taxes can be counterproductive, but taxation still has to be an important part of making investment decisions. Click through to gauge the role of losses, timing and selection of investments.
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Cost-of-living adjustments are affecting dollar limits for 401(k) plans, individual retirement accounts and other retirement plans. These changes affect both individuals and the businesses that manage company-sponsored plans. Click through to learn how the changes may affect you.
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Often misunderstood, a like-kind exchange can be a powerful tool in managing real estate holdings. The key is knowing the details. Click through to learn more about this useful but tricky tool, and how it may help you.
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Just as running a successful business takes planning and disciplined effort, effective business valuation requires organization and attention to detail. Click through to learn how to get started.
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Did you know that if you give a gift, you are responsible for paying a gift tax? It isn’t quite that simple, so it’s best to learn as much as you can about this tax. Click through to learn more about the gift tax and how it may apply to you.
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A trust lets you distribute your assets to others, while minimizing estate, income and gift taxes. Trusts have scores of uses for a variety of families. Click through for a basic primer on this essential component of estate planning.
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Wishing you a safe, fun and happy 4th of July! Freedom has its life in the hearts, actions and spirit of the American people. Click through for a special Independence Day greeting.
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No one likes paying taxes, and we look for ways to minimize our tax bills. But if you're took aggressive, you can step over the line from tax avoidance to tax evasion. Click through to learn the difference.
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If your business operates in two or more taxing jurisdictions, the Supreme Court’s decision in South Dakota v. Wayfair applies to you. Click through to learn the basics of collecting and reporting sales tax today.
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Businesses are trying to get more creative about how to offer health care while keeping costs down. Self-funded may be a solution. Click through for a quick intro to the advantages to help you decide if it's right for you.
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Sadly, there aren't many aspects of life, including a small business, where we don't have to worry about fraud at all. Click through to learn some ways you can prevent fraud in your company.
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With little fanfare, the IRS has issued a new draft version of Form W-4, used for federal tax withholding. It will likely change before a final version is issued for 2019, but meanwhile, companies can get a sense of what kinds of changes may be coming.
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Who says end-of-the-year giving has to be boring? Helfer & Company, LLC is proud to sponsor the Players Philanthropy Fund’s 2nd Annual Beltway Boards + Brews celebrity cornhole tournament on Monday, October 22 at the Baltimore Museum of Industry.
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It can be difficult to think about what we need as we age. Although your children may ensure that your physical and emotional needs are being met, they shouldn’t have to worry about the financial implications. Click through to see whether long-term care insurance is an option for you.
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Just as running a successful business takes planning and disciplined effort, effective business valuation requires organization and attention to detail. Click through to learn how to get started.
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You have employees, but you also may have independent contractors. Who are they and how do they affect your nonprofit organization? Click through to learn the difference and understand how to work with contractors.
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Internal controls are essential to a properly run construction company, and it doesn't matter what size business you have. Click through for an introduction to internal controls and a discussion of why every company needs them.
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Placing your home in a trust has advantages, like avoiding probate court, but there are a lot of details to get through. Click through to help figure out if this is the right move for you and what it involves.
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The IRS has issued some important new guidance on capital gains and property basis, especially as the rules apply to homes. There's a chance here to save on taxes. Click through for an intro to this key guidance.
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If you're like the great majority of students (or their parents), you might not have read all the fine print regarding how your student loans are structured or how repayment works. Click through to understand the inner workings of student loans.
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Small-business owners inevitably ask whether they should own or lease the building housing their business. Click through to read how small businesses are making this important decision.
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Your lookback period dictates your federal payroll tax deposit schedule, so "lookback period" is terminology that you should know. Click through to learn more about how lookback periods work, and how they affect payroll tax deposits.
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Basis seems like a simple concept, but as with so many tax issues, it can become complicated quickly. This is especially true after recent tax reform. Click through for the story of what has, and has not, changed.
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Is it possible to protect your estate and still qualify for Medicaid? Yes it is, with the right kind of trusts. Click through to learn about the different kinds of Medicaid trusts and how they might be able to help you.
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GoFundMe and similar sites have changed the way we think about charitable giving. But that doesn't mean the IRS has modified its rules. Click through for the facts about online donation sites and tax deductions.
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The Internal Revenue Service has issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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The IRS has announced cost of living adjustments for various pension plans for 2019. There are other retirement-related changes as well. Click through for the details, to learn how these changes may affect you.
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Good credit is helpful, even essential, for a successful financial life. The best advice for improving credit is to manage it responsibly over time. Click through for an introduction to the care and maintenance of your credit.
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Do you own an investment property but want to sell it and buy another? You can neatly avoid taxes, thanks to a 1031 exchange. Click through to learn how this useful rule can save you money.
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One thing all homeowners can agree on: Complaining about property taxes is one of their favorite pastimes. However, you may be able to actually do something about high taxes. Click through to learn how to appeal your property taxes.
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The growth of popularity in IRAs in past decades has meant there is going to be a lot of heirs inheriting them over the years, and a lot of people putting them into their estate plans. Click through to learn how inherited IRAs are treated when inherited.
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The alternative minimum tax has long been a confusing thorn in the side of many taxpayers. Many hoped the tax reform law would end it, but it's still with us, although the provisions have changed. Click through to see how the AMT might affect you.
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Who do you see as being your best option as the executor for your will? Perhaps you are considering one of your children, but what if you don’t think they are up for the job? Click through to see what other choices might work.
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There is not a single person on the planet who looks forward to dealing with the IRS. If you're dealing with specific problems, your dread could be compounded. Click through to take a closer look at the steps you should take when you've been contacted by the IRS.
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IRAs have many advantages, including legal protection from creditors when the owner files for bankruptcy. But there's a chink in the armor. Click through to learn about how the situation may be different with inherited IRAs.
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Interest on home equity loans and similar products still can be deducted under the new tax law, says the IRS, even though early readings of the law suggested otherwise. Click through to see how you may still be able to claim a deduction.
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Having an estate plan is essential for the future but choosing the path might be difficult. Where do you begin? Click through for tips that will help you take the important first steps toward a comprehensive estate plan.
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The controversial alternative minimum tax has been around for years, even though politicians argue about it. Has it changed recently? Click through to see how the AMT may apply to you as we approach the next tax season.
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Technology has enhanced the workplace and allows us to communicate more effectively and complete more tasks in a shorter amount of time. Click through to learn how managing your technology the right way can lead to better efficiency.
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Sure as the night follows the day, come tax season, so follow tax scams. Click through for some information on how to avoid the three major categories: fraudulent returns, phones scams and phishing.
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Nightmare stories abound when it comes to putting an aging parent or spouse in a nursing home. You may be worried about protecting your assets, and rightly so. Click through to learn how to avoid problems with care facilities.
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Yes, the tax code gives you some deductions for medical and dental expenses, but the rules can get complicated. Click through for an intro to this key deduction, to help figure out where the IRS draws the line.
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As is usual this time of year, the SSA has published critical information on benefit changes and maximum taxable income. Click through to see the details, so you can consider how they will affect you.
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The Family and Medical Leave Act was designed to help your employees take the time necessary for qualifying medical and family reasons. Click through to learn more about how this complex law works.
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You hate writing checks to the Internal Revenue Service on April 15. But what can you do now to trim this year’s tax bill? Click through for some strategies to limit your tax obligations and reduce the chance of an unpleasant surprise.
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Much talk has been made of the new 20 percent tax deduction for pass-through entities but, as with most tax laws, it can get very complicated very quickly. Click through to learn more, and find out if you're entitled to the break!
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Today's savvy employees look for companies with retirement planning options like 401(k) plans. If you lack one, you'll miss out on the best employees. Click through to get started choosing a retirement plan for your company.
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Depending on the state of your small business, you may need to borrow money. But how do you know whether you’re ready to take this step? Click through to learn how you can make your loan process easier.
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At what age should you start collecting Social Security benefits? This is an important question that requires more thought than simply making a knee-jerk response. Click through to get a full understanding.
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Knowing how to withdraw your retirement funds in a tax-savvy way can be a challenge. You may have multiple sources for these funds. Click through to identify which funds you should access first and learn how to avoid costly traps.
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Cost segregation is used to classify assets for federal tax purposes, and if used correctly, it can save your money. But the devil's in the details. Click through to learn more about making tax regulations work for you.
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Unplugging from the noisy world of social media from time to time can help you clear your mind and enjoy the simpler things in life. Click through to learn how to disconnect and recharge.
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You have the same homeowners policy that you had when you purchased your home a decade ago, but is it still working for you? Click through to learn whether it's time to make a change.
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Board members are the fiduciaries who steer organizations toward a sustainable future by adopting sound, ethical and legal governance and financial management policies. Click through for an intro to this essential aspect of nonprofit management.
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These days, you want to donate with your head as well as your heart, making sure a charity is legitimate, well-run and aligned with your values. Click through to learn how to effectively make a charity a worthwhile part of your legacy.
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You want to choose employee benefit offerings so you can help your workers save money while at the same time you strengthen their loyalty to your business. Click through to see how Section 125 plans can work with HSAs.
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How you tap your accounts can make a big difference in what you ultimately pay. Click through to get a better understanding of the tax effects of withdrawing money from retirement accounts.
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Do you care if the money you invest is actually doing some good in the world? If so, socially responsible investing may be for you. Click through to learn how to ensure that your money is not invested against your values.
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Are you thinking about buying a new Wi-Fi router or access point? If so, there are two things to add to your checklist. Click through to learn the details before making a purchase.
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Although the payroll taxes you’re liable for as an employer may seem obvious, some taxes are not so easy to identify. Click through to learn the common and not-so-common employer payroll taxes, including associated liabilities.
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It's an old tax question, but the answers don't get any easier: what is the difference between a hobby and a business? It's a subtle point, but an important one. Click through for insights into IRS guidance.
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GoFundMe and similar sites have changed the way we think about charitable giving. But that doesn't mean the IRS has modified its rules. Click through for the facts about online donation sites and tax deductions.
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As we head into tax season, taxpayers should know that the IRS continues to use several private collection agencies. How may this affect you? Click through for the details on how the program works and what your rights are.
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Basis seems like a simple concept, but as with so many tax issues, it can become complicated quickly. This is especially true after recent tax reform. Click through for the story of what has, and has not, changed.
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Everyone talks about credit scores, and how they can make a huge difference in your life -- with home purchases, for example. But what really affects the numbers? Click through for some steps to take now to get on the path to a better score.
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S corporations are a great solution for the right kinds of businesses. However, they come with strict salary rules for their owners. Click through for the basics on S-corps to make sure you're in compliance.
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You've worked hard, and your reward of retirement is approaching. Here are some last-minute tips for your permanent vacation. Click through for some retirement insights.
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To receive FMLA-protected leave, eligible employees must provide adequate notice to their employers. If they don't, the leave could be delayed or denied. Click through for details on FMLA notice requirements.
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It's a little-known but very effective technique for leaving your money, and it doesn't require a lot of paperwork. Click through for the inside story on payable-on-death accounts, why they might be right for you, and what the drawbacks are.
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Blockchain is to bitcoin what the Internet is to e-mail. Even if you are not ready to use digital currency, it’s important to be familiar with it because it’s going to be around for the long term. Click through to get up to speed.
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As is usual this time of year, the SSA has published critical information on benefit changes and maximum taxable income. Click through to see the details, so you can consider how they will affect you.
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Did you know that if you give a gift, you are responsible for paying a gift tax? It isn’t quite that simple, so it’s best to learn as much as you can about this tax. Click through to learn more about the gift tax and how it may apply to you.
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You'll always know where the fun's going on with our interactive local events calendar featuring social sharing, images, videos and ticket links. Click through to see what's happening or to add your own local events.
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An opportunity zone, located in an economically distressed community, spurs investments via preferred tax treatment. Click through for an introduction to the specific conditions for this useful but complicated provision.
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Noncompete agreements are designed to keep confidential business information safe, and in this infotech world, that's essential. Click through to find out exactly what these entail and what they mean for someone's future employment prospects.
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Understanding how property taxes are calculated is critical to making sure the appropriate rate is charged. Click through to determine whether you're paying the lowest taxes possible and maximizing your returns.
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The year finished up with a bang as Congress enacted a number of changes that affect the retirement landscape and other tax situations. Click through for a summary of these changes and how they could affect you.
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We use our smartphones for so many things today that we take them for granted -- along with the security issues. How do you protect your personal information when you're on your phone? Click through to feel more trust in the apps you're using.
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Drawing up a will or trust allows you to designate where you want your assets to go when you pass away. Can trusts save estate taxes? Click through to compare the pros and cons of wills and trusts.
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You want to give deserving employees raises, to help ensure they stay with the company and to keep morale high. But how do you approach the task? Click through for insights into the process of deciding how much of a raise to give.
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Employees' W-4 forms show what they want withheld from their paychecks. It's their responsibility to complete the forms, but do you have to accept each form no matter what? Click through for some insights into your responsibilities.
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Good tax planning is a year-round activity that requires knowing your options and keeping good records. Circumstances change. Even if you have used the standard deduction for the past several years, click through to learn why that may no longer be the right option for you.
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A recent study showed that when 401(k) plans are offered, about 90 percent of all employees who have the option to contribute do so. There is, however, an important difference between pre-tax and after-tax contributions. Click through to learn about this key distinction.
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At what age should you start collecting Social Security benefits? This is an important question that requires more thought than simply making a knee-jerk response. Click through to get a full understanding.
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The changes made by the Tax Cuts and Jobs Act of 2017 make itemizing deductions out of reach for most taxpayers. With good tax planning, however, taxpayers still may be able to itemize. Click through to learn about alternate-year itemizing and other strategies.
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The Treasury Department and the IRS have issued final regulations and additional guidance on the qualified business income (QBI) deduction. Click through for additional insights into this popular, but complex, tax provision.
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Umbrella insurance is extra liability coverage if you're at risk of being sued for damages. Click through to learn how to protect yourself -- and your estate -- against libel, vandalism, slander and invasion of privacy.
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The TCJA may have been passed nearly two years ago, but the IRS is still making regulatory changes to address its provisions. Click through for the latest information on the 100% additional first year depreciation deduction.
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How much can you contribute to IRA and 401(k) plans? The answer is "it depends." Click through to understand retirement plan limits and the special "catch-up" provisions that can help older contributors.
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The Social Security Administration has released new numbers for those paying Social Security and those collecting it. Click through for the new maximum taxable earnings amount as well as COLA and other key adjustments.
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The IRS has announced the tax year 2020 annual inflation adjustments, including the tax rate schedules and other tax changes. These adjustments for 2020 generally apply to tax returns that will be filed in 2021.
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| HelferBell, LLC
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| (202) 629-5190
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| info@helferandcompany.com
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| 1101 Connecticut Ave NW, Ste 410
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| Washington, DC 20036
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advisers. Before making any decision or taking any action, you should consult a professional adviser who
has been provided with all pertinent facts relevant to your particular situation. Tax articles in this
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