Humphrey CPA Group

02/09/2019

Today is National Accounting Day.

So here is my attempt at self-deprecating humor.

Today is National Accounting Day, and it's the...

11/21/2018

After Black Friday, remember the small businesses that help support your local community!

02/08/2018

One of the tax specialties that an ex-employer had was over the road truck drivers. One of my past co-workers worked extensively on trucking companies.

This came across my feed earlier and this struck me as important. The new tax law has eliminated the 2% deduction for miscellaneous expenses-including employee related business expenses that aren’t reimbursed. Over the road drivers are allowed to deduct a per diem for nights on the road. This is a sizable deductions for self employed drivers. But those getting a paycheck might now have lost this deduction.

Please check with your own tax advisor if this applies to you.

The trucking per diem for 2018 is not going anywhere, but how will major changes in the recently passed Tax Cuts and Jobs Act affect truck driver taxes?

01/06/2018

Another example of how the new tax bill affects business owners. When in doubt ask your tax advisor. Thanks again to the US Tax Pros page for the link.

The new "20% of qualified business income" deduction was intended to benefit owners of sole propietorships, S corporations and partnerships. But a straightforward reading of new Section 199A reveals that all three business types will not be treated equally under the law. Can this be correct?

12/29/2017

Another good example for those trying to figure out how the new tax law affects you. This one is geared to determining if you are eligible for the 20% deduction if you have an interest in an estate, Trust, S Corp, partnership and yes, even rental property.

It gets kind of technical. Consult your tax advisor if you want to know how this will affect your 2018 taxes.

From the US Tax Pros FB site.

As part of the new tax law, certain business owners will be entitled to a 20% deduction against their "qualified business income." But how does the deduction actually work?

12/19/2017

I’m just the messenger.

This is a good side by side comparison, thanks to my friends at the US Tax Pros FB Page.

We have put together a side-by-side comparison of current law and the proposed Tax Cuts and Jobs Act of 2017 changes.

11/25/2017

Don’t forget to support your local small business! And not just during this time of year. We’re here all year long!

05/22/2017

05/17/2017

Today we celebrate our 7th birthday! Humphrey CPA Group was born. The main office was our family room and a PO Box was established as our business address. We've moved to two other locations, settling into our current location in August 2012. Many thanks to all our clients who have made the firm successful over the last 7 years. We are always looking for new clients and are happy to talk to potential clients.

Here's to the next 7 years. Most importantly, thanks to my family for being a part of this success. Without your support, I would not have had the successes to date.