The Newsroom

Financial and Accounting Updates and Information from Maggart

Scroll down or quick jump:

Sign Up for Tips and Updates from Maggart

* indicates required

From the Monthly Newsletter...

5 Key Points About Bonus Depreciation

August 20, 2021

Like most business owners, you’ve probably heard about 100% bonus depreciation — and hopefully you’ve been claiming it when appropriate. It’s available for a wide range of qualifying asset purchases and allows you to deduct the entire expense of an eligible asset in the year it’s placed in service. But there are many important details …

5 Key Points About Bonus Depreciation Read More »

Know the Nuances of the Nanny Tax

August 6, 2021

Many families hire household workers to care for their children, their home, or their outdoor spaces. If you’re among them, be sure you know the nuances of the “nanny tax.” Withholding Household Worker Taxes For federal tax purposes, a household worker is anyone who does household work for you and isn’t an independent contractor. Common …

Know the Nuances of the Nanny Tax Read More »

A Tax Quirk of Being a Business Partner

July 16, 2021

If you’re a partner in a business, you may have encountered a situation that gave you pause: In any given year, you may have been taxed on more partnership income than was distributed to you. The cause of this quirk of taxation lies in the way partnerships and partners are taxed. Pass-Through Taxation Unlike regular …

A Tax Quirk of Being a Business Partner Read More »

Looking for a CPA?

Our team of experts and advisors are ready to help.