AI and Machine Learning: Driving Business Forward, Especially in Finance and Supply Chain The boon of Artificial Intelligence (AI) and Machine Learning (ML) is allowing industry leaders to drive their businesses forward by leaps and bounds. However, with these limitless possibilities, determining … [Read more...] about AI and Machine Learning: Driving Business Forward
Maximizing the Value of Your Application Management Service
While investment in an Application Management Service (AMS) may typically be perceived as a necessary tool to address common "ticket fires" and workday glitches, getting the most out of your AMS service will not only fix system defects but also offer ways to reshape your work and adapt your business … [Read more...] about Maximizing the Value of Your Application Management Service
Exclusion of Capital Gain Taxes on Your Primary Residence
The sale of a primary residence can often result in a gain, resulting in a taxable event of a 20% capital gain rate, and if you are a higher income earner an additional 3.8% for net investment income taxes. The gain is the positive difference between the purchase price of the primary residence and … [Read more...] about Exclusion of Capital Gain Taxes on Your Primary Residence
Working From Home: The Home Office Deduction
Many of us want to work from home. Even more of us would work from home if it meant there was a guaranteed tax benefit. Unfortunately, unless you are self-employed, this is no longer the case. The Tax Cuts and Jobs Act of 2017 (TCJA) eliminated miscellaneous itemized deductions. In doing so, … [Read more...] about Working From Home: The Home Office Deduction
How do Fortune 500 Companies Avoid Federal Income Taxes
How do Fortune 500 Companies Avoid Federal Income Taxes Another day, a new tax code, and big companies still pay no taxes. According to a 2018 report from the Institute on Taxation and Economic Policy, sixty Fortune 500 companies paid $0 in “federal income taxes on $79 billion in domestic pre-tax … [Read more...] about How do Fortune 500 Companies Avoid Federal Income Taxes
Better Living Through Accuracy
Better Living Through Accuracy The essential core of successfully defending your tax returns is meticulous and correct recordkeeping. As Kevin Costner said in his biopic Wyatt Earp, “fast is fine, but accuracy is final.”[1] This statement applies to both gunfights and tax returns. Furthermore, … [Read more...] about Better Living Through Accuracy
Six Democratic Candidates and the Tax Plans they Wish to Employ
Six Democratic Candidates and the Tax Plans they Wish to Employ The 2017 Tax Cuts and Jobs Act wrought sweeping changes throughout the Internal Revenue Code. As the race continues to see which candidate will face President Donald Trump in the 2020 election; STA explores a brief overview of Joe … [Read more...] about Six Democratic Candidates and the Tax Plans they Wish to Employ
Enough is Enough: Reasonable Compensation
A business may reduce its’ corporate income by paying employees a wage. If you work for your business, then you may deduct a reasonable salary as a business expense. Even the president and sole owner of a closely held corporation is considered an employee for tax purposes.[1] Fortunately, IRC … [Read more...] about Enough is Enough: Reasonable Compensation
How Amazon Paid $0 in Federal Taxes
How Amazon Paid $0 in Federal Taxes Jeff Bezos, the founder of Amazon, might be the richest man in America. Coincidentally, Amazon reported revenue of $232 BILLION, earnings before income taxes of $11.2 billion, and a tax rebate of $129 million in 2018.[1] According to an analysis from the … [Read more...] about How Amazon Paid $0 in Federal Taxes
Asset Protection: NOW…not later
Asset Protection: NOW…not later An important business strategy is protecting business assets by creating an asset protection plan. Assets that need to be protected include: personal residence, business and investment real estate, bank accounts, retirement accounts, marketable securities, … [Read more...] about Asset Protection: NOW…not later