The CBD Blog

Find peer advice, partner insights, and industry updates – all here in the CBD blog, ‘At The Helm’! With contributions from our entire team, we blog about the things that interest you.

How to Combine Home Sale Gain Exclusion with a Like-Kind Exchange

Homeowners, beware: You may be hit with a large federal tax bill when you sell your principal residence if your property is in an area where market values have skyrocketed over the years. Fortunately, two breaks might reduce the tax hit: 1) the home sale gain exclusion, and 2) tax-deferred like-kind exchanges. Here’s a strategy that could potentially save you and your family significant tax dollars.

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Warning: E-Scooters May Pose Risks to Your Business and Its Employees

If you live or work in a city, you’ve probably seen electric scooters quietly gliding around in recent months. Unfortunately, this new technology-driven mode of transportation can pose risks to unwary employers. Here are some issues related to using so-called “e-scooters” for business purposes, along with a way to safeguard your business and its employees from the negative side effects.

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Could Medicare Premiums Lower Your Taxes?

Medicare health insurance options can be confusing, and the premiums can be more expensive than you might think. This article explains how Medicare coverage works and how some people may be able to lower their tax bills by deducting Medicare health insurance premiums and other qualifying medical expenses.

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2018 Income Tax Withholdings: Too Much, Too Little or Just Right?

Many individuals still aren’t familiar with all the changes under the Tax Cuts and Jobs Act. So, they don’t know whether their 2018 withholding and estimated quarterly payments will be sufficient. Here’s an overview of the provisions that might affect your tax situation, along with recent queries to the IRS about possible penalty relief for those who didn’t pay enough to the IRS for the 2018 tax year.

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Should You Switch Your Business to C Corporation Status?

Based on prior tax law, many businesses chose to operate as sole proprietorships and pass-through entities, including partnerships, LLCs and S corporations, to help lower their taxes. Now some business owners are rethinking their business structures under the current tax law. But before you switch, it’s important to learn about the potential pitfalls of operating as a C corporation.

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Important Tax Figures for 2019

Every year, the dollar amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. Here are some important tax figures for 2019, compared with 2018, including the estate tax exemption, Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions, allowable business write-off amounts and more.

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