BCo Blog

Update on IRS functions during the government shutdown

The IRS has just released an update on what they will and will not be doing during the government shutdown: The IRS will continue to: Process electronic and paper-filed returns (including amended returns) Issue refunds [...]

By |January 21st, 2019|Categories: BCo Community News|Comments Off on Update on IRS functions during the government shutdown

Don’t forget to let your CPA know if you have a foreign bank account

Did you know that if you have a foreign bank account, or even just signature authority over a foreign account that isn’t in your name, that your CPA should know about it?  While there is [...]

By |January 21st, 2019|Categories: BCo Community News|Comments Off on Don’t forget to let your CPA know if you have a foreign bank account

2018 – 2019 Tax Planning Guide

With the end of the year rapidly approaching, we are once again reaching out to share our annual Tax Planning Guide with you. The 2018/2019 Tax Planning Guide is available here www.webtaxguide.net/Bregante. The Tax Cuts [...]

By |December 6th, 2018|Categories: Announcements, Business Tax, Individual Tax, Nonprofit Organizations, Real Estate|Comments Off on 2018 – 2019 Tax Planning Guide

2019 Annual Contribution Limit Increase for Retirement Plans

This week the IRS announced increases to the annual contribution limits for 401(k) and IRA accounts, effective January 1, 2019.   Both limits increased by $500, so the new annual contribution limit is $19,000 for 401(k) [...]

By |November 5th, 2018|Categories: Individual Tax, IRS, Retirement Planning|Comments Off on 2019 Annual Contribution Limit Increase for Retirement Plans

IRS Clarifies Rules Regarding When Rental Property Activity Should be Reported as a Schedule Business

According to the IRS, not all rental property activity should be reported on Schedule E.   If the property owner provides "substantial services" to short-term renters, the IRS says that the rental activity should be [...]

By |September 15th, 2018|Categories: Business Tax, Individual Tax, IRS, Real Estate|Comments Off on IRS Clarifies Rules Regarding When Rental Property Activity Should be Reported as a Schedule Business