Ong & Company Blog

Married Filing Jointly or Separately?

Richard Ong / February 12, 2019 /

Tax Planning

Consider this when choosing to file jointly or separately If you're married, it's better to file a joint tax return, rather than separately ... right? That's usually true, but not always. It depends ...

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Tax-Free Employee Awards

Reward employees with tax-free achievement awards How can you motivate employees? One way is to set up an achievement award plan that rewards length of service or safety measures. If certain ...

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Deducting Employee Business Expenses

Richard Ong / January 17, 2019 /

Tax Deductions, Tax Planning

Under recent tax legislation, the deduction for miscellaneous expenses has been eliminated, effective for 2018 through 2025. This wipes out any write-off for employee business expenses you pay out of ...

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Getting Ready For 2018 Income Tax Filings

Tax records needed for 2018 returns Tax filing season kicks off in a few weeks. What records should you assemble? Due to recent tax law changes, you may not need all the records you've kept before. ...

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New Tax Rules For Vehicle Trade-Ins.

Trading in a business car? Here are the new rules New tax legislation eliminated the tax deferral on exchanges of like-kind exchanges of property, except for real estate. This change (generally ...

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New IRS Rules For Meals & Entertainment

After the new law repealed deductions for entertainment expenses, many businesspeople figure their write-offs for treating customers or clients to meals are gone for good. But interim guidance handed ...

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5 Tax Breaks Limited By Tax Reform

Richard Ong / December 10, 2018 /

Tax Deductions, Tax Planning

REMINDER: Rules have changed for these tax breaks New tax legislation provides numerous tax benefits for individuals for 2018 through 2025. But not all the changes are likely to align with your go-to ...

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New Tax Law Impacts Year End Tax Planning

Richard Ong / November 25, 2018 /

Tax Deductions, Tax Planning

Major tax legislation at the end of 2017 has suspended many prized deductions for 2018 through 2025, while cutting tax rates. As a result, your year-end tax planning will likely need some new moves. ...

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In-Kind Charitable Contributions

Richard Ong / November 18, 2018 /

Tax Deductions, Tax Planning

Giving property to charity? Check the tax rules Despite other wholesale changes for individuals for 2018 through 2025, the main tax benefits for charitable donations have been preserved. If you ...

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Avoid Tax on Required IRA Distributions

If you are an IRA owner, the IRS requires that you withdraw a minimum amount (RMD) from your IRA each year after your required beginning date. However, some IRA owners may not need the money or don’t ...

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