There’s a world of tax difference between repairs to real estate property and capital improvements. And it’s not just semantics. The characterization could result in an increase or decrease of thousands of dollars on your tax return. Basic premise: Repairs are currently deductible in full and can be used to offset the tax from rental income. On the other hand, Read More
Technology in the Accounting Industry: Why Human Workers Will Always Be Needed
As technology continues to evolve and propel businesses into the future, developments that not long ago seemed lightyears away are now just around the corner. When it comes to accounting, technology has helped streamline processes and secure data to ensure the privacy of client information and enable firms like FAL to provide better, more efficient Read More
What Taxpayers Need to Know About the Government Shutdown
Reaching a record breaking 35 days, the recent government shutdown began on December 22, 2018 and ended on January 25, 2019, which makes it the longest government shutdown in the history of the United States. With news of IRS employees not showing up for work amid salary freezes, the questions are mounting in the minds of taxpayers. As Read More
Temporary or Permanent? What You Need to Know About Recent Tax Reform
This year, the IRS and Congress have unveiled tax reform, some of which is permanent, and some is temporary. Decisions you make this year could affect what happens when some of the reforms expire in 2025. Take a look at the below guide to help you and your tax consultant plan for Tax Day 2018. 2018 Permanent Read More
Fair, Anderson and Langerman named 2018 Accounting Today’s Best Accounting Firms to Work for
Fair, Anderson and Langerman was recently named as one of the 2018 Accounting Today’s Best Accounting Firms to Work for. Accounting Today has partnered with Best Companies Group to identify companies that have excelled in creating quality workplaces for employees. This survey and awards program is designed to identify, recognize and honor the best employers Read More
How the Tax Cuts and Jobs Act Affects Higher Education Tax Breaks and When to Contact a Tax Accounting Firm
The Tax Cuts and Jobs Act (TCJA) enacted many changes that affect individual taxpayers. With regards to tax breaks for higher education, the TCJA brought few changes, merely tweaking existing provisions. An experienced tax accounting firm can help you understand if the TCJA changes your tax situation. Check out the key details of education-related tax breaks for the Read More
What Does the Tax Cuts and Jobs Act Bill Mean for C Corps and How Can Your Tax Accountant in Las Vegas Help?
The number one reason most organizations avoided forming a C Corp – double taxation – is (thanks to the Tax Cuts and Jobs Act) now essentially off the table. The permanent installation of a flat 21% federal income tax came into effect for tax years beginning in 2017. It applies uniformly to PSCs which, prior Read More
What Taxpayers Can Do when a Letter Arrives this Summer
Did you receive a letter or notice from the IRS? Don’t panic. Each year the IRS sends millions of them to taxpayers across the country and most of them are easy to resolve. If you need help, a Las Vegas accounting firm is a good place to start. Reasons You May Be Contacted Every taxpayer has Read More
What You Need to Know About the Tax Cuts and Jobs Act
Signed into law by President Trump on December 22, 2017, the Tax Cuts and Jobs Act (TCJA) has left many homeowners and prospective home buyers wondering about the status of home loan interest tax deductions. The Tax Cuts and Jobs Act lasts through the 2025 tax year unless Congress decides to extend the provisions. Therefore, Read More
Verenice Flores, CPA from Fair, Anderson & Langerman Selected to Attend AICPA’s 2018 Leadership Academy
Verenice Flores, CPA was one of only 41 CPAs honored by the American Institute of CPAs (AICPA) as a member of the Leadership Academy’s tenth graduating class. Verenice was selected based on her exceptional leadership skills and professional experience for the four-day Leadership Academy program, which will be held from October 7-11 in Durham, N.C. Read More
