GRANTHAMPOOLE ARTICLES

HSAs 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...

Rethinking 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...

Home 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...

S 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...

Why 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...

Cloud 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...

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