Ong & Company Blog

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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Kansas Tax Increase for 2017

Richard Ong / June 09, 2017 /

Tax Planning

Governor Sam Brownback's grand experiment with his "March to Zero" tax plan came to a crashing (and retroactive) halt this week when both chambers of the legislature voted to override his veto of a ...

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Tax Credits for Dependent Care Expenses

Richard Ong / April 09, 2017 /

Tax Planning

The dependent care credit may be changed by Congress in the coming years, but you can still take advantage of it now. It offers some surprising benefits that may apply to your situation....

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ObamaCare Surtax Basics

Richard Ong / March 25, 2017 /

Tax Planning

The Net Investment Income Tax (NIIT) is a unique tax provision, introduced in 2013 to help pay for the Affordable Care Act (ACA). While the NIIT may be the focus of future congressional action, the ...

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