Ong & Company Blog

Deducting Business Education Expenses

Richard Ong / October 17, 2017 /

Education Tax Benefits

Now that the kids are back in school, you may have the itch to return to the classroom yourself, perhaps to brush up on certain skills in your field or expand your horizons. Can you deduct the cost ...

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Time For A New Company Car?

Richard Ong / October 06, 2017 /

Tax Deductions

Now that 2018 models are in the showrooms, you may be shopping for a new car to purchase for your business. Be aware that if you are self-employed, you can use one of two methods; the actual expense ...

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Hardship Withdrawals From Retirement Plans

Richard Ong / September 29, 2017 /

Retirement Savings

Suppose you need to borrow money in a hurry and your only obvious option is a bank loan with sky-high interest — if you can even obtain one. Consider an unusual source: your 401(k) plan or IRA....

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Business Tax Credit for Disability Access

Richard Ong / September 22, 2017 /

Tax Planning

Are you upgrading the offices or workspace of your small business? This may be an opportunity to make improvements to accommodate individuals with disabilities (including your own employees and ...

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Client Spotlight: Camp Bow Wow Kansas City - Westport

Zach Davis / September 22, 2017 /

Client Spotlight

On September 23rd, Patrick Frickleton's 14 months of research, planning, and hard work, will culminate in the Grand Opening of Camp Bow Wow Kansas City in Westport....

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Dependent Care Tax Credits

Richard Ong / September 15, 2017 /

Tax Planning

A couple can claim the Child and Dependent Care Credit — commonly called the "child care credit" for short — if they pay someone to watch the kids while they're at work. But suppose one spouse plans ...

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Zero Percent Capital Gains Tax Rate

Richard Ong / September 11, 2017 /

Most investors face a 15 percent tax rate on long-term capital gains. This increases to 20 percent for people at the top of the ordinary income bracket (39.6 percent). That's not too bad, considering ...

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Do You Need to File Gift tax Return?

Richard Ong / September 05, 2017 /

Estate Tax

As the end-of-year holidays approach, you may decide to be extra generous to your loved ones. Specifically, by giving your family members gifts that are usually sheltered by the annual gift tax ...

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Avoid Taxes Due To Multiple IRA Rollovers

Richard Ong / August 25, 2017 /

Retirement Savings

The tax rules are relatively lenient for rollovers to a traditional IRA. For instance, if you transfer funds from your 401(k) plan to an IRA within 60 days, there's no tax liability on the transfer. ...

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Tax Advantages of Municipal Bonds

Richard Ong / August 21, 2017 /

Tax Planning

In today's tax environment, nothing is certain. However, as things stand now, high-income taxpayers may continue to value municipal bonds ("munis") and muni bond funds. Just consider these four tax ...

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