Tag: accounting

top 10 cities with highest commercial property taxes

10 States With The Highest Commercial Property Taxes

top 10 cities with highest commercial property taxes An annual report from Lincoln Institute of Land Policy and the Minnesota Center for Fiscal Excellence is pointing out the recent shift in property values and how it’s affecting taxes across all 50 states. So where are the 10 states with the highest commercial property taxes today? “Property taxes that are rebounding along with recovering property values should be no surprise to landlords. However, a lag time in reassessment periods in some jurisdictions is causing some property tax bills to skyrocket…” [ Read more here ]

irs loosens retirement rules for harvey victims

IRS Loosening Retirement Plan Rules For Harvey Victims

irs loosens retirement rules for harvey victims The devastation in South East Texas on account of Hurricane Harvey has residents and neighbors working day and night to dry out and recover what they can. The IRS has loosened some retirement plan rules to help with the hardships being endured…

“The Internal Revenue Service granted additional relief to victims of Hurricane Harvey on Wednesday by allowing 401(k)s and other employer-sponsored retirement plans to give loans and hardship distributions to aid them without incurring penalties…” [ Read more here ]

Don’t Let Social Security Taxes Sink Your Finances

Social security taxes can sink your finances depending on your income level. Protect yourself from financial devastation with the expert accounting services from Sterling Accounting.

“Did you know that if your income is high enough, you’ll have to pay taxes on some of your Social Security benefits? In fact, you may have to pay income tax on up to 85% of your retirement benefit checks. Luckily, there are ways to reduce or even eliminate those taxes by making most of your income nontaxable…” [ Read more here ]

lottery payment taxes

How Much Will That $758M Powerball Winner Pay In Taxes?

lottery payment taxes It’s the largest lottery winning ever that will be going to one individual winner, but with that large payout, there will also be a large tax bill incoming.

“The one lucky person holding the $758.7 million Powerball jackpot ticket sold in Massachusetts will have an avalanche of financial decisions to make in the coming days and weeks.

It’s the biggest single lottery jackpot win in North American history…” [ Read more here ]

Diving Into The Future Of The Accounting Industry

Technological advances have supercharged the accounting industry, allowing individuals to begin using their time differently thanks to the implementation of automation, and it continues to shape the future of the industry…

“The accounting industry was one of the first to be impacted by an increase in advanced data technology, with the adoption of technologies such as tax software and tools that help accountants reduce the amount of errors made. However, based on recent Bureau of Labor Statistics data, and what we see at accounting staffing firms, the future of accounting shines brightly for those with established careers and those still trying to determine if it’s the right career path for them…” [ Read more here ]