General News and Information Archives - Page 21 of 40

Nov
16
2018

Donate appreciated stock for twice the tax benefits

Did you know that you may be able to enjoy two tax benefits if you donate long-term appreciated stock instead of cash? First, if you itemize, you can claim a charitable deduction equal to the stock’s fair market value. Second, you can avoid the capital gains tax you’d pay if you sold the stock. But the charitable deduction will provide a tax benefit only if your total itemized deductions exceed your standard deduction,

Nov
13
2018

New FICO system

New FICO credit score uses checking and savings account history http://bit.ly/2JinM6R

Nov
08
2018

Bank Account Hacked?

Bank account hacked? 5 critical settings to keep hackers from accounts http://bit.ly/2SXhhKQ

Oct
31
2018

Tax Identity Theft

Tax identity theft: A horror story – AICPA Insights http://bit.ly/2JpD9dH

Oct
31
2018

HBL CPAs helping out with the United Way Days of Caring for the Backpack Project

HBL CPAs helping out at the United Way Days of Caring for the Backpack Project October 30, 2018. Thank you to all who came out to help. There was a lot of unwrapping, ripping boxes, and stuffing (5,500 backpacks worth). Good job team! To anyone who wasn’t a part of the event, the backpacks were used as part of an art installation at the U of A to raise awareness of the 21,000 opportunity youth in Pima County.

Oct
25
2018

The IRS has launched an easy-to-use webpage

The IRS has launched an easy-to-use webpage, IRS.gov/taxreform, with information about how the Tax Cuts and Jobs Act affects your taxes, with a special section focused on tax exempt entities.

The tax reform page features three areas designed specifically for:

Individuals – For example, standard deduction increase, child tax credit, withholding. Use the Withholding Calculator to make sure you’re withholding enough tax from your paycheck.

Oct
24
2018

Additional IRS guidance on virtual currencies is necessary

Additional IRS guidance on virtual currencies is necessary, according to the House Ways and Means Committee. In a letter to the IRS, committee members questioned the IRS on an uptick in enforcement actions being taken against holders of virtual currencies without the agency issuing additional guidance. The letter referred to several “robust enforcement actions on a number of fronts.” It cited the authority to seek the records of some 500,000 Americans who held virtual currencies between 2013 and 2015.

Oct
22
2018

HBL Wears Pink

In support of Breast Cancer Awareness month, HBL Employees showed support by wearing Pink. We at HBL honor all who have been impacted by Breast Cancer.

Oct
18
2018

HBL Wears Purple!

HBL CPAs wears purple in support for survivors of domestic violence.

Oct
17
2018

You might save tax if your vacation home qualifies as a rental property

If you own a vacation home and both rent it out and use it personally, classification as a rental property might save tax. Expenses attributable to a rental property aren’t subject to the TCJA’s tightened limits on itemized deductions for property tax and mortgage interest, and losses may be deductible. A rental property generally is one you use for 14 days or less, or under 10% of the days you rent it out,