This month we spotlight a Tax Manager on our team, Debbie Brady. Debbie has been with Orcutt for 12 years, and she has more than 20 years of experience in taxes and accounting—in both the private and public sector. What do you enjoy about your role? I enjoy helping clients understand how taxes impact their personal […]
View Full ArticleDid you know that several members of the Orcutt team went to Arizona with Lifeline Christian Mission ? Lifeline’s vision is to spiritually and physically minister to people around the world. Lifeline ministers to thousands in Haiti, Honduras, El Salvador, Cuba and Canada—and provides many volunteer opportunities right here in the United States. Orcutt team member Sherry […]
View Full Article“Qualified” retirement plans include 401(k) and SIMPLE plans. These plans offer tax-advantaged contributions and potential earnings. On the other hand, “Non-qualified” deferred compensation (also called NQDC) plans don’t typically include those same tax advantages, yet they help companies compete for and retain top employees. How so? Here’s one example: imagine an employee has maxed out […]
View Full ArticleNancy and Dick Orcutt donated a bench along the Little Miami State Park’s trail, in memory of Douglas Orcutt, who passed away in 2013. The Orcutt family has been active on the trail for years, and so this was one way to honor Doug’s memory. This photo was taken last month when Nancy and Dick […]
View Full ArticleThis month we spotlight Linda Mullucey, a Corporate Tax Manager who has been with us for 24 years in September. Prior to joining the Orcutt team, Linda was a Controller at a small IT firm and she was an Assistant Controller and Credit Manager at a large Cincinnati hotel. What do you enjoy about your […]
View Full ArticleA Health Savings Account (HSA) offers 3 tax benefits, often referred to as “triple tax benefits.” If you have a high deductible health plan and you are eligible, here is how the triple tax advantage works: 1. Pre-tax contributions. Contributions to your HSA are on a pre-tax basis, meaning all the money you contribute is […]
View Full ArticleQuestion: Every year we have an employee picnic. We also have a holiday party in December. With the new tax law changes, are these expenses still deductible? Answer: The new tax law eliminated much of the 50% deduction for meals and entertainment expenses related to customers and business prospects. There are some exceptions, though. If your company […]
View Full ArticleThe IRS recently announced a clarification in a ruling it made regarding Health Savings Accounts (or HSAs). The contribution limit will stay with the original $6,900 limit for family coverage for 2018. Previously, the IRS had announced that the limit would be reduced for this calendar year to $6,850. That may not seem like a […]
View Full Article529 plans are designed to support families saving for future education expenses. Earnings on contributions are not subject to federal taxes when they are eventually withdrawn to pay for schooling and schooling-related expenses. In our recent wave of tax changes, the definition of “qualified education expenses” has expanded, which can be great news for […]
View Full ArticleAs many of you know, Jerry Taylor is retiring. While he’s enjoyed helping private business owners with tax, accounting, and retirement planning for more than 46 years, he is looking forward to spending time with his seven grandchildren, photography, and woodworking. Jerry is also actively involved with various ministries in his church and serves as the church […]
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About 62% of Americans are anticipating a tax refund from either the IRS or their state this year. Of that group, 1 in 2 people already know how they want to spend their return. According to this recent survey , many Americans are choosing to use at least part of their money to improve their financial […]
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The IRS raised its standard mileage rate used for calculating the deductible costs of operating a vehicle for business purposes in 2018. You can deduct 54.5 cents per business mile, up a penny from last year. Click here to read more of the latest, including an update on federal tax rates, deductions and credits for […]
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