Ong & Company Blog

New Tax Breaks for Businesses

Nick Ong / February 18, 2018 /

Tax Planning, Tax Deductions

The Tax Cuts and Jobs Act (TCJA) does much more for businesses than lower corporate tax rates. With careful planning, your small business may realize big tax benefits under the new law. Here are ...

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Enhanced Medical Expense Deductions

Richard Ong / February 10, 2018 /

Tax Deductions

The new tax reform law — the Tax Cuts and Jobs Act (TCJA) — preserves the deduction for medical expenses, unlike many other itemized deductions. But that's only part of the good news for itemizers. ...

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2018 Tax Planning Opportunities

Richard Ong / February 03, 2018 /

Tax Deductions

Now that the massive new Tax Cuts and Jobs Act (TCJA) is finally the law of the land, what should you do? Every situation is different, but here are several practical suggestions for improving your ...

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Deducting Commuting Expenses

Richard Ong / January 13, 2018 /

Tax Deductions

If you commute back and forth to work every day, you typically can't deduct any of your travel costs, such as gas for your car or commuter fares. The IRS says these commuting expenses are ...

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Alimony or Child Support?

Richard Ong / January 05, 2018 /

Tax Deductions

If you are divorced and have young children, there's a good chance that you are paying or receiving alimony or child support (or both) under a divorce decree. What's the difference? The distinction ...

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After Tax Reform: Charitable Gifts Every Other Year?

Richard Ong / December 17, 2017 /

Tax Deductions

First of all, in the spirit of the season, let me be clear that I am not advocating that you reduce your charitable giving. On the contrary, I would encourage you to continue and even increase your ...

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Holiday Season Tax Planning

Richard Ong / December 09, 2017 /

Tax Deductions

As the year-end holidays approach, add some tax cheer for 2017. In fact, you can still make timely tax moves as late as the last week of the year. Consider these five tax-saving stocking stuffers....

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Itemized Deduction Tax Planning

Richard Ong / December 04, 2017 /

Tax Deductions

Tax reform talk is heating up again as legislators discuss the proposed tax code overhaul. One of the key proposals would repeal most itemized deductions currently on the books. Although enactment is ...

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Non-Cash Charitable Contributions

Richard Ong / November 19, 2017 /

Tax Deductions

As the holidays approach, you may decide to be extra generous this year by donating property to charity. As long as you observe the strict tax rules in this area, you may still be able to take ...

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When To Pay 2017 KS Income Tax Bill?

Richard Ong / November 02, 2017 /

Tax Deductions

As you are probably aware, especially if you live in Kansas and own your own business or are otherwise self-employed, many of us will facing a whopping Kansas income tax bill next April due to the ...

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