Tax News - Culver CPA Group - Grand Rapids Accounting Firm
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Tax News / Blog

  Play your tax cards right with gambling wins and losses If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) could also have an impact. Wins and...

Keep an eye out for extenders legislation The pieces of tax legislation garnering the most attention these days are the Tax Cuts and Jobs Act (TCJA) signed into law last December and the possible “Tax Reform 2.0” that Congress might pass this fall. But for certain...

Contemplating compensation increases and pay for performance As a business grows, one of many challenges it faces is identifying a competitive yet manageable compensation structure. After all, offer too little and you likely won’t have much success in hiring. Offer too much and you may compromise...

The TCJA prohibits undoing 2018 Roth IRA conversions, but 2017 conversions are still eligible Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement. But what if you convert your traditional IRA — subject to income taxes on all...

Do you still need to worry about the AMT? Now is a good time to familiarize yourself with the changes to AMT, assess your AMT risk and see if there are any steps you can take during the last several months of the year to avoid...

Once upon a time, some parents and grandparents would attempt to save tax by putting investments in the names of their young children or grandchildren in lower income tax brackets. To discourage such strategies, Congress created the “kiddie” tax back in 1986. Since then, this...