BKHM Blog

Social Security Announces Small Increase in 2018 Wage Base

Posted by BKHM CPAs on Tue, Oct 17, 2017 @ 10:14 AM

The Social Security Administration (SSA) announced on Friday that the maximum amount of wages in 2018 subject to the 6.2% Social Security tax (old age, survivor, and disability insurance) will rise from $127,200 to $128,700, an increase of a little more than 1%. By comparison, the 2017 wage base increased more than 7% over the 2016 wage base.

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Kylan McNemar Appointed to Opera del Sol Board of Directors

Posted by BKHM CPAs on Tue, Oct 10, 2017 @ 11:20 AM
Kylan McNemar has been appointed to the new Opera del Sol Board of Directors.  

We are Opera Del Sol, a breakout immersive production company in Central Florida. Our mission is to change the way we experience opera, and performance art by creating curated, conceptual productions in unexpected places.

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Disaster Tax Relief Bill Signed Into Law

Posted by BKHM CPAs on Mon, Oct 09, 2017 @ 09:36 AM

In a Statement of Administration Policy, the White House explained that HR 3823 would “provide targeted tax relief for taxpayers impacted by  Hurricanes Harvey, Irma and Maria. In addition to supporting these tax relief measures, the administration will submit further requests to the Congress for supplemental funding in the near future, and looks forward to working with Congress to enact these recovery measures into law.”

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URGENT Need for Volunteers to Help Pack for Puerto Rico

Posted by BKHM CPAs on Tue, Oct 03, 2017 @ 10:39 AM

OVER 30,000 Volunteers Needed!

Open shifts starting this Friday.

We are in urgent need for thousands of volunteers to help package 4.4 million meal kits for hurricane victims in Puerto Rico. The Orlando Cares Hope for Puerto Rico disaster relief project is a month-long event that will take place at the Orange County Convention Center. The meal kits are being shipped directly to FEMA for immediate distribution to the children and families devastated by the storms this year.

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Topics: volunteer

CCH Federal Tax Weekly - September 21, 2017

Posted by BKHM CPAs on Thu, Sep 21, 2017 @ 11:09 AM
Click Here to read the latest edition of the Federal Tax Weekly
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Topics: Federal Tax Weekly

Hurricane Irma Update - IRS Gives Additional Extension to File for Most of Florida

Posted by BKHM CPAs on Fri, Sep 15, 2017 @ 10:37 AM

IRS gives tax additional extension of time to file for most of Florida.

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Topics: Hurricane, Extension

CCH Federal Tax Weekly - August 31, 2017

Posted by BKHM CPAs on Fri, Sep 01, 2017 @ 10:53 AM
Click Here to read the latest edition of the Federal Tax Weekly
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Topics: Federal Tax Weekly

IRS Warns of Fake Charity Scams Regarding Hurricane Harvey

Posted by BKHM CPAs on Wed, Aug 30, 2017 @ 09:36 AM

The Internal Revenue Service has issued a warning about possible fake charity scams emerging due to Hurricane Harvey and encouraged taxpayers to seek out recognized charitable groups for their donations.

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Topics: IRS Scam Warning

Federal Tax Weekly - August 17, 2017

Posted by BKHM CPAs on Fri, Aug 18, 2017 @ 10:36 AM
Click Here to read the latest edition of the Federal Tax Weekly
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Topics: Federal Tax Weekly

Do You Have a Deductible Business Loss or a Nondeductible Hobby Loss?

Posted by BKHM CPAs on Tue, Aug 15, 2017 @ 01:04 PM
Taxpayers who engage in an unincorporated sideline — outside of their regular day jobs — must understand the differences in the tax treatment of hobbies and for-profit business activities. Here's an overview of the hobby loss rules, along with a recent U.S. Tax Court case that disallowed a taxpayer's claim that his loss from organizing film festivals should be classified as a for-profit business activity. Click Here to continue reading.
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Topics: Business Loss