The IRS has released their updated optional standard mileage rates for 2018. These rates are used to calculate the deductible cost of operating an automobile for business, charitable, medical, or moving purposes. As of January 1, 2018, the standard mileage rates include the following: Driving for business use of a car, van, pickup truck, or…
The Tax Cuts and Jobs Act, which was passed in both houses of Congress, was signed into law by President Trump on December 22, 2017. The majority of the provisions contained in the sweeping reform legislation went into effect January 1, 2018. Items Affecting Individuals: Tax Rates – The act keeps the seven tax brackets…
With the widening talent gap in technology, it will be increasingly difficult for businesses to find an employment standard. In an article from Disruption Hub, author Laura Cox writes, “As enterprises inevitably enter the digital age, employment requirements are changing. Unfortunately, the workforce often seems to be playing a game of catch up. The tech…
As the holiday season nears, be on the lookout for email phishing scams that could access your personal data and taxes. According to an article from CPA Practice Advisor, “The most common way for cybercriminals to steal bank account information, passwords, credit cards or Social Security numbers is to simply ask for them. Everyday, people…
Bitcoin has made headlines in the past week as the value skyrockets. How are world leaders responding to the cryptocurrency? In an article from Business Insider, author James Stafford writes, “Cryptocurrency may be one of the biggest threats to governments, security and the entire financial system that we’ve ever seen. It can help fund terrorism…
While raw data is readily accessible in today’s modern world, not every business uses data to enhance a customer’s experience. Businesses can use data to align your products and services. In an article from Disruption Hub, author Ryan Garner writes, “there is still a lot of debate around the best data source to generate customer…
Year-end tax planning for individuals and businesses provides the opportunity to not only make strategic tax decisions that can improve your current tax situation, but also the chance to consider new tax developments and their effects on future years. The Scott and Company team would like you to take a look at this informative report…
Customers are beginning to expect personalized shopping experiences. Using the latest consumer trends, ecommerce companies will be able to grow their businesses. In an article from Entrepreneur, author Thomas Smale writes, “Much has been said about personalization in ecommerce, which more than ever before is shifting toward tailoring the experience to individual customers. This point…
Business growth can stall due to lack of identity. Business owners should focus on their strengths while leveraging new technology to create a competitive advantage. In an article from Entrepreneur, author Nancy Harris writes, “A recent survey conducted by our company, Sage, found the top challenges for small and medium-sized businesses included domestic competition,…
On Thursday, House Republican leadership continued their efforts for tax reform, presenting a new tax bill containing a wide variety of changes for both business and individual tax rates, writes Anna Edgerton and Erik Wasson of Bloomberg News. The authors detail the following elements contained in the proposed legislation: For businesses – A measure to…
