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So far Paul has created 40 blog entries.

IRS New Withholding Calculator

The IRS encourages everyone to use the Withholding Calculator to perform a quick “paycheck checkup.”  This is even more important this year because of recent changes to the tax law for 2018.

The Calculator helps you identify your tax withholding to make sure you have the right amount of tax withheld from your paycheck at work.

There […]

By |2018-03-01T07:38:09+00:00March 1st, 2018|Uncategorized|

Overview of the retirement plan changes in the TCJA Act of 2018

Dear Client,

Here’s a look at some of the more important changes in the TCJA that affect retirement plans. Except with regard to the disaster-related provisions (which contain special effective dates), the changes are effective for tax years beginning after 2017.

  • Recharacterization of IRA contributions. An individual who makes a contribution to a regular or

Roth IRA […]

By |2018-02-22T12:01:13+00:00February 22nd, 2018|Uncategorized|

Tax Reform Allows 100 Percent Deductions for Presentation Expenses

Tax Reform Allows 100 Percent Deductions for Presentation Expenses

Tax reform did much damage to tax deductions for business entertainment and meal expenses.

But meals served at business presentations survived the entertainment and prospect and client meal bloodletting. And not only did presentation expenses survive as deductions, but they also continue as 100 percent business expense […]

By |2018-02-22T11:57:40+00:00February 22nd, 2018|Uncategorized|

New treatment of alimony under the new tax law.

Southern Cloud Accounting LLC

Pensacola, FL

The Tax Cuts and Jobs Act (the Act) has made changes to the tax treatment of alimony that you will be interested in. These changes take effect for divorce agreements and legal separation agreements executed after 2018.

Current rules. Under the current rules, an individual who pays alimony or separate maintenance may […]

By |2018-01-30T09:09:20+00:00January 30th, 2018|Uncategorized|

The much discussed 20% deduction for “qualified business income” under the 2017 Tax Cut and Jobs Act.

Southern Cloud Accounting LLC, Pensacola, Florida

2017 Tax Cut and Jobs Act – New 20% deduction for qualified business (pass-through) income under new tax law.

I am writing to inform you of a significant new tax deduction taking effect in 2018 under the new tax law, the Tax Cuts and Jobs Act (the Act). It should […]

By |2018-01-10T15:10:58+00:00January 10th, 2018|Uncategorized|

Overview of 2017 Tax Cuts and Jobs Act

Dear Client,

The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here’s a look at some of the more important elements of the new law that have an impact on individuals. Unless otherwise noted, the changes are effective for tax years beginning in 2018 through 2025.

  • Tax rates. The new law […]
By |2018-01-09T15:22:27+00:00January 9th, 2018|Uncategorized|

Cloud Accounting In Pensacola – Part I

Here is Southern Cloud Accounting’s magic formula for success in cloud accounting.

  1. When a client is unorganized, apply technology voluminously.
  2. Our end product is a monthly financial statement that helps.
  3. Communicate continuously using online meeting software.

With this formula, we are having our greatest success in our 5th year of business here at

Southern Cloud Accounting.  Call us […]

By |2017-10-05T10:49:57+00:00October 5th, 2017|Uncategorized|

October 15th Deadline Is Here!!

October 15th is almost here. October 15th is the last day to file your 2016 1040.  To be exact, you have 10 days to file a tax return. But who is counting? We are! If you still haven’t done your taxes, don’t panic. We have prepared with these five great last minute tax tips to help you […]

By |2017-10-05T10:44:00+00:00October 5th, 2017|Uncategorized|

What To Bring To Your Accountant for Individual Taxes

WHAT TO BRING TO YOUR ACCOUNTANT:
1040 return
Item Documentation
1) Tax returns from prior years

Write notes over here.

 

 

 

 

2015, if possible.
INCOME RECORDS
2) Wages and salaries W-2
3) Dividends and interest 1099-Div and 1099-INT
[…]

By |2017-09-20T14:35:05+00:00September 20th, 2017|Uncategorized|