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From the Headlines to your Bottom Line

Consider Section 179 Deductions for Real Estate Expenses

The Sec. 179 deduction for qualified real property expenses is now a permanent feature of the tax law but that doesn't necessarily mean it's right for you. Here are the basic considerations, including which expenses qualify. But beware: There is a potential downside to taking this deduction when it comes time for individual taxpayers to recognize gains from selling the related real property.
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Remember RMDs this Tax Season

If you're 70 or older, you're required to take required minimum distributions (RMDs) from your traditional IRA (or IRAs) every year. Here are the requirements including an extended April 1 deadline for taking RMDs for the year you turn 70 as well as details about a tax-free alternative that can satisfy the RMD rules for charitably inclined seniors.
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How S Corporations Can Save on Federal Employment Taxes

Are you an owner of a sole proprietorship, partnership or LLC? If so, federal self-employment tax bills may be costing you thousands of dollars each year. Operating as an S corporation can help reduce federal employment taxes for small businesses that are currently unincorporated. Here's how this strategy works and why it's important to act fast to implement the changes for calendar year 2017.
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How We Add Up

"Our clients rely on Fust Charles Chambers to provide innovative thinking by anticipating changes in tax laws, accounting methods and industry and economic trends. At other times, our clients depend on us to act as a sounding board for their ideas and concerns. We’re proud to be part of our clients’ team with the purpose of assisting them in attaining their goals and objectives."

- Joseph L. Charles, Partner