Back Tax Accountant and Business CPA highlights the importance of accountants to help with new tax reform – Orlando, FL

Pauline Ho, a leading CPA in Orlando, Florida, has recently highlighted the significant role accountants and CPAs will play in navigating clients through changes in the new tax laws. For more information please visit http://lausconsult.com/

Orlando, FL, United States - February 14, 2018 /MM-REB/ —

In a recent interview Accountant Pauline Ho highlighted the significant role accountants and CPAs will play in navigating client through changes in the new tax code.

For more information please visit http://lausconsult.com/

On January 1, the Tax Cuts and Jobs Act of 2018 signed by President Trump came into effect, revamping the tax code by introducing new changes. Not all changes will be permanent, however, and most will expire in 2025.

When asked to elaborate, Mrs. Ho said, “These broad changes at both the enterprise and individual levels mean that the impact of the new tax code will not be the same for everyone. Consulting with an experienced accountant will ultimately help you save by taking advantage of deductions.”

Owners of pass-through companies in certain sectors, Ho says, are expected to be one of the main benefactors of the new tax code.

“The new tax law allows for small businesses to claim 20% of ‘qualified business income’ in their returns. However, there are several limitations to this new rule. A qualified accountant can advise businesses owners how they can make the most of these deductions,” Ho said.

This is expected to have repercussions throughout the business world, Mrs. Ho says, as pass-through entities - which include sole-proprietorships, partnerships, S corporations, and LLCs – comprise 95% of all businesses in America, according to figures from Business Insider.

The tax code also introduces significant changes for personal filing. Taxpayers can expect lower tax rates on personal income, with higher earners receiving higher cuts. The new tax code also calls for a temporary end to personal exemption and for an increase in standard deductions.

“With these new variables introduced into the equation, a CPA will calculate how much these changes will affect a client on a month-to-month or yearly basis, as well as how to maximize overall savings,” Mrs. Ho said.

The IRS plans to shed light on how much will be withheld by employers. In a statement made in late December, the IRS said that the “use of the new 2018 withholding guidelines will allow taxpayers to begin seeing the changes in their paychecks as early as February.”

While the changes seem significant, Mrs. Ho says, there’s no need to reconfigure financial plans and goals.

“The majority of people are not likely to see a massive swing in their overall returns for the next tax year. However, contacting a professional accountant is the best way to ensure that the necessary adjustments are made to spending habits or financial plans,” Ho said.

Source: http://RecommendedExperts.biz/

Contact Info:
Name: Pauline Ho
Organization: Laus Consulting Services LLC
Address: 879 Outer Rd B, Orlando, FL 32814, USA
Phone: 407-401-9768

For more information, please visit http://lausconsult.com/

Source: MM-REB

Release ID: 300509

Latest News

Cybersecurity 'Paul Revere' touts adversarial model

Oct 21, 2018

BURLINGTON, Mass. — Chris Wysopal and his Boston hacker collective pals from the L0pht sounded the alarm on the sad state of software vulnerability in a now-legendary 1998 appearance before Congress. Then-Sen. Joe Lieberman hailed the group as "modern-day Paul Reveres." Wysopal remains active in cybersecurity today as chief technology officer of Veracode, now part of CA Technologies. He spoke with The Associated Press recently on the state of security. Questions and responses have been edited for clarity and length. Q: How did Microsoft in 2002 come to embrace the mindset of allowing friendly, "white-hat" hackers to pick apart software...

Snake names honor Darwin, fire god, Louisiana professor

Oct 21, 2018

NEW ORLEANS — A Louisiana professor is in heady company, honored by having one of three newly identified species of snakes from the Galapagos Islands named after him. "They named one after Charles Darwin — that's a no-brainer — and one after the Greek god of fire, and one after me, of all people," said Robert A. Thomas , an environmental biologist and head of head of the Center for Environmental Communication at Loyola University New Orleans. The snake in question, a handsome critter with lengthwise brown and creamy yellow stripes, is called Pseudalsophis thomasi (sood-al-SO-fis TOM-uhs-eye). "I've got a...

What's next for Paul Allen's big investments? It's not clear

Oct 21, 2018

SEATTLE — Prior to his death on Monday, billionaire Microsoft co-founder Paul Allen invested large sums in technology ventures, research projects and philanthropy, some of it eclectic and highly speculative. What happens to those commitments now? Outside of bland assurances from his investment company, no one seems quite sure. Allen died in Seattle from complications of non-Hodgkin's lymphoma, according to his company Vulcan Inc. He was 65. He never married and had no children, and details of his estate aren't known. Forbes recently estimated Allen's net worth at $20.3 billion. He used much of the money he made from Microsoft...

Treasury employee charged in leak linked to Mueller's probe

Oct 21, 2018

WASHINGTON — A Treasury Department employee was accused Wednesday of leaking confidential banking reports of suspects charged in special counsel Robert Mueller's investigation, and an unidentified high-ranking colleague was cited in court papers as a co-conspirator but was not charged. Natalie Mayflower Sours Edwards, a senior official at the department's Financial Crimes Enforcement Network, also known as FinCEN, is accused of leaking several confidential suspicious activity reports to a journalist, whose name was not disclosed in court papers. But the documents list about a dozen stories published by BuzzFeed News over the past year and a half. A spokesman for...

Paul Allen's passions: Rock n' roll, sports and philanthropy

Oct 21, 2018

SEATTLE — Personal computers, conservation, pro football, rock n' roll and rocket ships: Paul G. Allen couldn't have asked for a better way to spend, invest and donate the billions he reaped from co-founding Microsoft with childhood friend Bill Gates. Allen used the fortune he made from Microsoft — whose Windows operating system is found on most of the world's desktop computers — to invest in other ambitions, from tackling climate change and advancing brain research to finding innovative solutions to solve some of the world's biggest challenges. "If it has the potential to do good, then we should do...

Sign up now!