GEORGE JOHNSON & COMPANY
2018 Year-End Tax Planning – For Businesses
Read more about Tax Savings for the following:
- CASH VERSUS ACCRUAL METHOD OF ACCOUNTING
- REVENUE RECOGNITION
- ADVANCE PAYMENTS
- RELATED-PARTY TRANSACTIONS
- UNRELATED PARTY COMPENSATION
- NONQUALIFIED DEFERRED COMPENSATION
- DEDUCTIBLE VERSUS CAPITALIZABLE INTANGIBLE COSTS
- START-UP AND ORGANIZATIONAL EXPENDITURES
- CORPORATE AMT REPEALED
- SECTION 199A DEDUCTION FOR QUALIFIED BUSINESS INCOME
- INTEREST EXPENSE DEDUCTION LIMITATION
- DEPRECIATION DEDUCTIONS
- APPLICATION OF BONUS DEPRECIATION TO PARTNERS AND PARTNERSHIPS
- QUALIFIED IMPROVEMENT PROPERTY
- SECTION 179 EXPENSING ELECTION
- PERSONAL PROPERTY VERSUS REAL PROPERTY
- TANGIBLE PROPERTY REGULATIONS
- INTERNATIONAL TAX PROVISIONS UNDER TAX REFORM
- FEDERAL RESEARCH CREDIT
- WORK OPPORTUNITY TAX CREDIT
- EMPLOYEE RETENTION CREDIT FOR EMPLOYERS IN FEDERAL DISASTER ZONES
- PAID FAMILY LEAVE CREDIT
- NEW MARKETS TAX CREDIT
- OPPORTUNITY ZONE PROGRAM
- PASSIVE LOSSES
- RENTAL REAL ESTATE
- RESCINDING A TRANSACTION
Long-term Capital Gains and Qualified Dividends
Long-term capital gains and qualified dividends tax rates remain unchanged. The following rates are applied, based on the taxpayer’s taxable income:
Hometown: Livonia, MI
1. How long have you been with George Johnson & Company?
Since January 2014
2. What drew you to a career in the accounting field?
I took some accounting classes in high school and did very well. I enjoyed the courses as well and when I saw that I could have a bright future as a CPA, I pursued a career in accounting.
3. What do you find most rewarding about your work?
I enjoy working with many different clients and the constant change in the work. There is always something unique and interesting happening. I also enjoy solving problems encountered by clients.
4. What’s the best part of being a member of the GJC team?
Everyone is always interested in learning. We have a lot of opportunities to take on assignments that we wouldn’t have the chance to if we worked at a larger CPA firm.
5. Name one item on your “bucket list”:
Vacation in Hawaii
6. What is your favorite restaurant in Metro Detroit?
Pegasus in Greektown
7. Favorite sports team:
Detroit Red Wings
2018 America’s Thanksgiving Day Parade