IRS Circular 230 (Regulation) disclosure: Any tax advice (whether U.S. federal, state, local or otherwise) contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties that may be imposed on any taxpayer (under the Internal Revenue Code, state tax law, local tax law or otherwise) or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.
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Tax Planning Suggestions

Ways to Take Advantage of a Higher Standard Deduction in 2018 The final tax bill has not yet been passed so we cannot know exactly what the provisions of that bill will contain.  But one item that is in both the House and the Senate versions is the increased standard deduction for 2018.  Another item […]

Giving Tuesday

Taxpayers can use IRS Select Check tool before Donating on Giving Tuesday Giving Tuesday is an annual event celebrated the week after Thanksgiving to kick off the season of charitable giving. Taxpayers making donations may be able to deduct them on their tax return. As people are deciding where to make their donations, the IRS […]

Tax Legislation Update – Upcoming Changes in Tax Laws

As you are likely aware, House Republicans unveiled a major overhaul of the Internal Revenue Code last week.  The proposal would impact virtually every individual and business with revisions to tax rates, deductions and credits.  There will likely be additional changes to the proposal as it proceeds through the legislative process due to intense lobbying […]

Military Outpost

The Military Outpost, sponsored by and     PROUDLY SUPPORTS OUR MILITARY AND THEIR FAMILIES. Join us Saturday and Sunday, October 28-29, and bring your family to the  Grand Prize of America Road Course to get special pricing and access to the only sanctioned race held at this 1.965 mile track completed in 1997 for an […]

Vital Function, for Every Business

A vital function of every business, regardless of size, is bookkeeping.  Without accurate records, it is impossible to know if the business is making or losing money.  Timely financial statements provide the tools needed to manage the business, with important information about cash flow, revenues, and expenses. Another bookkeeping function is the preparation of required […]

IRS Announces 2018 Pension Plan Limitations

Update from the Employee Benefit Plan Audit Team The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan has increased from $18,000 […]

Update from the Employee Benefit Plan Audit Team

401(k) Record-Keepers Take Additional Security Options Equifax, recently revealed that from May to July 2017, computer hackers lifted the information of about 143 million Americans stored in the company’s database. Data exposed includes names, addresses, birthdays, phone numbers, Social Security numbers, driver’s license numbers, among other information. Record-keepers of 401(k) and similar retirement plans often […]

Disaster Tax Relief Bill Signed by President Trump

Tax Legislation Update If you suffered a casualty loss during one of the recent hurricanes, the tax act signed by the President on Friday, September 29, 2017, provides the following relief: Any casualty loss, not just the portion in excess of 10% of your adjusted gross income, qualifies as a deduction.  And you do not […]

Cyber Security Breach at Equifax

A Message to Clients and Friends The recent cyber security breach at Equifax has compromised the personally identifiable information (“PII”), including social security numbers and credit card details, of hundreds of thousands of individuals. There are a number of steps you can take to identify whether your PII has been stolen. First, go to the […]

Hurricane Irma

A Message to Clients and Friends Regarding Hurricane Irma Hancock Askew cares for our clients and employees. We wish everyone safety through this storm. In preparation for impact from the storm, the firm is closing our Savannah, Atlanta and Miami offices tomorrow, Monday, September 11th. We will continue to monitor the storm and hope to be […]

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