2018 Year-End Tax Planning for Individuals and Businesses

  INDIVIDUALS: Year-end 2018 sees the end of the first year of the Tax Cuts and Jobs Act (TCJA), the most significant tax legislation in the Unites States in more than 30 years. While one of the claimed benefits of tax reform was the simplification of filing and the lowering if income tax rates, there […] Read more »

2017 Tax Law Updates for Individuals & Businesses

The H.R. 1, known as the Tax Cuts and Jobs Act, which makes widespread changes to the Internal Revenue Code, has been signed into law on December 22nd, 2017. Most of its provisions, including a lower corporate tax rate of 21% and lower individual income tax rates, go into effect January 1, 2018. As we […] Read more »

Accounting Updates: Presentation of Financial Statements of Nonprofit Entities

The FASB recently released Accounting Standard update (ASU 2016-14) to improve the way not-for-profit or nonprofit entities present their financial information. This is the first major change to the nonprofit financial statement model in over 20 years. ASU 2016-14 impacts all not-for-profit entities in the scope of Topic 958, as well as health care entities […] Read more »

2016 Tax Filing Kicks off:

The Internal Revenue Service (IRS) said that it successfully started accepting and processing 2016 federal individual income tax returns on schedule effective January 23rd, 2017. More than 153 million returns are expected to be filed this year. People have until Tuesday, April 18, 2017 to file their 2016 returns and pay any taxes due. Taxpayers […] Read more »

Accounting Updates: Revenue Recognition for Contract with Customers

Financial Accounting Standard Board (FASB) provides Technical Accounting corrections and improvements to Revenue recognition with regards to topic 606, which provides guidance on Revenue from Contracts with Customers.  This standard affects all entities, including public, private, and non-profit, having contracts customers, with the exceptions of certain items, including “Leases” accounted for under “FASB ASC 840”, […] Read more »

Certified MBE

News: Our firm has been Certified Minority Business Enterprise (MBE) with the Supplier Diversity Office (SDO) of the State of Massachusetts. Read more »

2016 Year-end Tax Planning Tip

Implementing tax strategies at year-end always presents unique challenges and opportunities. The impact of recent tax legislation and significant IRS rule changes during 2016 raises the stakes. The Protecting Americans from Tax Hikes Act (PATH Act), passed in late 2015, changed both dramatically the dynamics of planning for the expiration of various tax breaks and […] Read more »

Choose Your Tax Return Preparer Wisely!

If someone helps you do your taxes, you’re not alone. The IRS asks you to choose your tax return preparer wisely – for good reason. You are responsible for the information on your income tax return. That’s true no matter who prepares your return. Here are helpful links with tips to keep in mind when […] Read more »

Tax Filing Extension

Filing a tax extension is sometimes ideal. Get help from experts at JUSU CPA LLC. Tax Filing Extension It is often possible to get a tax filing extension. Federal taxes are due to the IRS by April 15th of each year, unless the IRS changes this date. In some cases, you may find it difficult […] Read more »