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Publications

Monday, October 28, 2019

Partnerships Need to Disclose Significantly More Information to IRS than in Years Past Beginning with 2019 Filings

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On September 30, 2019, the Internal Revenue Service (IRS) posted copies on its website of draft 2019 Form 1065 U.S. Partnership Return of Income, draft 2019 Form 1065 (Schedule K-1) Partner’s Share of Income Deductions, Credits, etc., draft 2019 Form 8865 Return of U.S. Persons With Respect to Certain Foreign Partnerships, and draft 2019 Form […]

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Thursday, October 17, 2019

Year-End Tax Planning Moves for Small Businesses

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It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax bill before ringing in the New […]

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Thursday, October 17, 2019

New Bankruptcy Relief Coming Soon

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Is your small business struggling to make ends meet? Some relief may be on the way for distressed business owners. The Small Business Reorganization Act of 2019 will make it faster and less expensive to benefit from a Chapter 11 bankruptcy. The legislation was signed into law in August, and it goes into effect on February […]

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Thursday, October 17, 2019

New Business Travel Per Diem Rates Announced for 2020

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Recordkeeping for reimbursing business travel expenses can be cumbersome. Instead of reimbursing employees for the actual costs they incur for out-of-town lodging, meals and incidentals, some employers opt to pay fixed travel per diems. These amounts are based on IRS-approved rates that vary from locality to locality. Here’s what you’ll need to know to determine if this […]

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Thursday, October 17, 2019

Reap Tax Rewards from Year-End Harvesting

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The stock market has experienced plenty of ups and downs this year. So some investors are poised to take big gains for 2019, while others are currently showing losses and many have both. What are the tax consequences if you sell securities? There’s no fast answer. But it helps if investors understand the basic rules and […]

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Thursday, October 17, 2019

New Overtime Pay Rules Finalized for 2020

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The U.S. Department of Labor (DOL) has issued the long-anticipated final version of its overtime eligibility rules. The changes will take effect on January 1, 2020. As a result, the DOL estimates that 1.3 million workers will be newly eligible for overtime pay. Are any of them on your payroll? Read on to find out. What’s […]

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Thursday, October 17, 2019

What You Should Know About Criminal Background Checks in Employment

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If you’re not familiarwith the “ban the box” concept, you might be soon. The box refers to a question on a job application that asks applicants if they have been convicted of a crime. In 14 states, it’s now illegal to include that question. If your state is not one of those 14, it could […]

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Thursday, October 17, 2019

Year-End Strategies to Reduce AGI

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Reducing your current-year adjusted gross income (AGI) is usually a tax-smart idea. Here are ten ways to reduce your AGI (and modified AGI) over the short and long run. Closeup on AGI AGI equals all taxable income items minus selected deductions for such items as deductible IRA and retirement plan contributions and alimony payments required by […]

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Monday, September 23, 2019

FCC Recognized as 2019 Accounting Today’s Best Accounting Firms to Work for

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Fust Charles Chambers LLP, Certified Public Accountants has been recognized by Accounting Today as one of the 2019 Best Accounting Firms to Work For! FCC ranks in at #13 in the mid-sized firms category!  Accounting Today partnered with Best Companies Group to identify companies that have excelled in creating quality workplaces for employees. The survey […]

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Tuesday, July 30, 2019

Changing Jobs? What Will Become of Your 401(k) Balance?

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Most private sector employers, for better or worse, put you in the driver’s seat when it comes to saving for retirement. If you’re a genuinely savvy and diligent investor, you might prefer the flexibility of rolling over your accumulated retirement savings into an IRA. This choice assumes, however, that your next employer’s 401(k) plan allows […]

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