GRANTHAMPOOLE NEWS & UPDATES
The 6 Most Costly Mistakes Made by Business Owners: Choosing the Wrong Entity Type
Running a business is hard. Anyone that has ever run a small business knows that there are a multitude of mistakes to be made and each one offers its own series of lessons about how to do things better the next time. However, it’s good to...
read moreFraud Is Still Alive and Kicking
A number of years have passed since the headlines were filled with stories of Enron, WorldCom, and Bernie Madoff. While the media has moved on from these sensational stories, fraud continues to be perpetrated with astounding frequency. ...
read moreDouble Down on Your Charitable Giving Deductions with Appreciated Stocks
Charitable giving is one of the most popular tax deductions for people who itemize their deductions. Not only are you helping the charitable organization of your choice, but you also get a tax break! The easiest form of charitable giving is, of course,...
read moreHSAs and Why You Should Take Advantage
Health Savings Accounts (HSAs) are a great way to set aside money to pay for both unexpected and expected medical costs. And an even greater benefit – you may qualify for a tax deduction! The tax benefits of an HSA are favorable and can be substantial. An...
read moreRethinking Itemized Deductions
The 2018 tax season saw major changes for most taxpayers due to the Tax Cuts and Jobs Act’s (TCJA) inaugural year. Many taxpayers found that they were no longer able to itemize deductions as they had been in years past. While there is little you can do to...
read moreHome Sweet Home Mortgage Interest Deduction
One of the many changes in the new tax law that may impact you is the mortgage interest deduction. This is still a favorite deduction despite the significant increase in the standard deduction. It is important to first understand how the IRS defines...
read moreMississippi Sales Tax Holiday to Include School Supplies
The Mississippi Sales Tax Holiday of 2019 will take place between Friday, July 26th and Saturday, July 27th and will include school supplies in addition to clothing and footwear. For further guidelines, please visit the link below:...
read moreS Corp Basis and Why You Should Track It
Shareholder basis reflects a shareholder's post-tax economic investment in a corporation. Calculating correctly and in the proper order can be a challenge with a small business corporation (an S corporation), since items of income and loss pass through to...
read moreWhy You Should Still Like Like-Kind Exchanges
It’s no secret that the Tax Cuts and Jobs Act (TCJA) ushered in sweeping changes to tax law that affected all of us. Today we’ll be talking about one such effect on owners of real estate: the 1031 exchange. Also known as like-kind exchanges, 1031 exchanges...
read moreCloud Computing Can Put Your Business on FIRM Footing
We keep hearing and reading about cloud computing in today’s business community. There’s also a growing interest in outsourced accounting. But what do these terms mean? They’re more than just new buzzwords to help you with the infamous buzzword bingo...
read more