Ong & Company Blog

Happy Tax Day!

Richard Ong / April 17, 2018 /

Tax Planning

Tick, tick, tick … the deadline for filing your 2017 tax return is rapidly approaching. The traditional due date is April 15, but you technically have until April 17 to file your 2017 return. Why? ...

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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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Year-End Tax Tips for Individuals

Richard Ong / November 11, 2017 /

Tax Planning

Under the tax reform plan recently announced by the Trump administration, most itemized deductions would be eliminated, except those for charitable donations and mortgage interest....

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Year-End Business Tax Planning Moves

Richard Ong / November 06, 2017 /

Tax Planning

Some tax planning moves for small businesses are more common, like acquiring property that qualifies for the generous Section 179 expensing allowance. But other strategies may fly under the radar. ...

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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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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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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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Should You Amend That Tax Return?

Richard Ong / July 21, 2017 /

Tax Planning

Suppose you just glanced at the 2016 tax return you filed in April and noticed an error or omission. Or maybe you remembered a deduction you neglected to include on your return from the prior year. ...

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New Research Tax Credit Benefits

Richard Ong / July 10, 2017 /

Tax Planning

After years of uncertainty, the Protecting Americans from Tax Hikes (PATH) Act of 2015 permanently extended a tax credit for research expenses for qualified small businesses. Generally speaking, the ...

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Taxation of Social Security Benefits

Richard Ong / June 30, 2017 /

Tax Planning

After paying taxes on earnings during your entire work career, you may finally be entitled to receive Social Security retirement benefits. But be aware that those benefits could come at a tax price. ...

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