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BGCLLC Certified Public Accountants Greenville, SC

Can You Deduct Home Office Expenses?

January 25, 2018

  Working from home has become commonplace. But just because you have a home office space doesn’t mean you can deduct expenses associated with it. And for 2018, even fewer taxpayers will be eligible for a home office deduction. Changes under the TCJA For employees, home office expenses are a miscellaneous itemized deduction. For 2017, […]

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BGCLLC Certified Public Accountants Greenville, SC

Not Necessarily a Luxury: Outsourcing

January 17, 2018

For many years, owners of small and midsize businesses looked at outsourcing much like some homeowners viewed hiring a cleaning person. That is, they saw it as a luxury. But no more — in today’s increasingly specialized economy, outsourcing has become a common way to cut costs and obtain expert assistance. Why would you? Outsourcing […]

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BGCLLC Certified Public Accountants Greenville, SC

Personal Exemptions and Standard Deductions and Tax Credits, Oh My!

January 16, 2018

Under the Tax Cuts and Jobs Act (TCJA), individual income tax rates generally go down for 2018 through 2025. But that doesn’t necessarily mean your income tax liability will go down. The TCJA also makes a lot of changes to tax breaks for individuals, reducing or eliminating some while expanding others. The total impact of […]

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BGCLLC Certified Public Accountants Greenville, SC

Overview of the Tax Cuts and Jobs Act Affecting Individuals

January 11, 2018

The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here’s a look at some of the more important elements of the new law that have an impact on individuals. Unless otherwise noted, the changes are effective for tax years beginning in 2018 through 2025.   Lower tax rates. The new […]

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BGCLLC Certified Public Accountants Greenville, SC

Don’t Be a Victim of Tax Identity Theft: File Your 2017 Return Early

January 9, 2018

  The IRS has just announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17 filing deadline, or even the extended deadline of October 15 (if you file for an extension by April 17). After all, why go through the hassle of filing […]

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BGCLLC Certified Public Accountants Greenville, SC

Making Your Charitable Deductions Deductible Under the New Tax Law

January 8, 2018

The new tax law that went into effect at the beginning of 2018 will have a significant impact on those who had typically received a tax benefit for deducting charitable contributions in the past. The new law increased the standard deduction to $12,000 for single filers and $24,000 for joint filers.  And, if you are […]

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