News! EAC wins 2018 Small Business of the Year award Learn More

Eckhoff Accounting News & Resources

5 Deductions That May Shrink (or Disappear) on Your 2018 Tax Return

5 Deductions That May Shrink (or Disappear) on Your 2018 Tax Return


While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks, it limits or eliminates several itemized deductions that have been valuable to many individual taxpayers. Here are five deductions you may see shrink or disappear when you file your 2018 income tax return:

1.

Read More
Financial Statements Tell Your Business’s Story, Inside and Out

Financial Statements Tell Your Business’s Story, Inside and Out


Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements.

In short, financial statements are detailed and carefully organized reports about the financial activities and overall position of a business.

Read More
Why You Shouldn’t Wait to File Your 2018 Income Tax Return

Why You Shouldn’t Wait to File Your 2018 Income Tax Return


The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can. Why? You can potentially protect yourself from tax identity theft — and reap other benefits, too.

Read More
Refine Your Strategic Plan With SWOT

Refine Your Strategic Plan With SWOT


With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general outline but haven’t quite put the finishing touches on it yet. In either case, there’s a time-tested approach to refining your strategic plan that you should consider: a SWOT analysis.

Read More
Depreciation-Related Breaks on Business Real Estate:  What You Need to Know When You File Your 2018 Return

Depreciation-Related Breaks on Business Real Estate: What You Need to Know When You File Your 2018 Return


Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments.

Read More
Follow us

Subscribe to Our Newsletter


By submitting this form, you are consenting to receive marketing emails from: Eckhoff and Company | Eckhoff Wealth Management, LLC, 145 N. Redwood Drive, San Rafael, CA, 94903, http://eckhoffwealth.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact