Ong & Company Blog

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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Year End Business Tax Planning

10 tax-savvy business moves to make before 2019 Even though 2019 is just around the corner, you still have time to take action and save on your business tax bill. Here are 10 ideas to consider:...

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Business Data Security Requirements

Keep your business tax info safe Business taxes involve a lot of paperwork, and those papers typically contain a lot of personal financial information. Are you taking steps to make sure your records ...

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Payroll Reporting Reminders

Don't forget — October is the month for preparing third-quarter 2018 payroll reports. As you begin gathering the information you'll send to federal, state and local governments, check your compliance ...

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Should You Have A Health Savings Account?

Your health savings account refresher Health savings accounts (HSAs) have been around a long time, and little has changed since they were first introduced in 2003. They offer tax benefits, many of ...

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Vehicle Tax Deduction Alternatives?

The tax dilemma for business drivers If you use a vehicle for business driving, you have a tax choice: deduct your actual expenses or use an IRS-approved standard mileage rate. Frequently, the actual ...

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Do You Have a Home Office?

How to preserve your home office deduction Do you work from home? Frequently, you can qualify for home office deductions offsetting taxable income from a sole proprietorship or other small business. ...

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