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

To fend off Netflix, movie theaters try 3-screen immersion

Aug 15, 2018

LONDON — Sit at the back of the movie theater, and it's possible to see the appeal of ScreenX, the latest attempt to drag film lovers off the sofa and away from Netflix. Instead of one screen, there are three - one at the front, and two on the sides - to add to the immersive experience you can't get from the home TV. First adopted in South Korea in 2012, the system is being launched in the U.K. and theater chain Cineworld plans to add over 100 new screens to the worldwide count of 151. The technology is the...

Twitter CEO defends decision not to ban Alex Jones, Infowars

Aug 15, 2018

LONDON — Twitter CEO Jack Dorsey defended his company's decision not to ban right-wing conspiracy theorist Alex Jones and his "Infowars" show, as many other social media platforms have done, saying he did not break any rules. Facebook, Apple, YouTube and Spotify took down over the past week material published by Jones, reflecting more aggressive enforcement of their hate speech policies after rising online backlash and raising pressure on Twitter to do the same. Jones' Facebook account has also been suspended for 30 days but he still has a "verified" Twitter account. A separate Twitter account for "Infowars" is also...

Indian ride-hailing service Ola plans UK expansion

Aug 15, 2018

LONDON — Indian ride-hailing service Ola is stepping up its international expansion with plans to launch in the U.K., its second overseas market. The company said Tuesday it has won operating licenses for South Wales and Greater Manchester. It plans to start services in South Wales next month but didn't specify when Manchester operations would begin. Ola said it's working with local authorities to expand across Britain by the end of 2018. The app-based company says it will offer private cars as well as Britain's famed black taxis. The company's ambitions are set to add pressure on Uber in Britain,...

Tap and pray: Churches using card readers for donations

Aug 15, 2018

LONDON — Thousands of Christian churches across the world are now using portable card readers or apps to take donations as people increasingly stop carrying cash on them. The Church of England says 16,000 religious sites now have access to portable card readers. In the U.S., hundreds of churches have installed kiosks where the faithful can swipe a card to donate. Others are popularizing smartphone apps where money can be sent over at any time. "How we pay for things is changing fast, especially for younger church-goers, who no longer carry cash, and we want all generations to be able...

US teacher rows solo across Atlantic in record time

Aug 15, 2018

LONDON — A high school science teacher from Cincinnati, Ohio, has rowed solo across the Atlantic Ocean, setting a record for a west-to-east crossing. Bryce Carlson arrived at St. Mary's in the Isles of Scilly, off England's southwestern tip, late Saturday — 38 days, six hours and 49 minutes after setting out from St. John's, Newfoundland. The 37-year-old athlete was applauded by relatives and well-wishers as he stepped onto the quay at St. Mary's Harbour after rowing more than 2,000 miles (3,200 kilometers) in his 20-foot (6-meter) boat, Lucille. Carlson capsized several times and endured high waves and the remnants...

Sign up now!