Resources - Smoker Smith & Associates

Reminders & Updates

Check It Out!

Check out the article in the Central Penn Business Journal, Women Who Lead, March 2019 article featuring our partner Jori Culp

http://www.cpbj.com/article/20190306/CPBJ01/303069999/women-who-lead-jori-m-culp-cpa?fbclid=IwAR1QS3LqoY_P5jEkST4y0QOhRYFYvqzr3UunTpTTFF5PKLUqEfT3JSxd-Tw

Tax-Related Identity Theft

The IRS combats tax-related identity theft with aggressive strategies of prevention, detection and victim assistance. To find out more about tax-related identity theft call our office or visit https://www.irs.gov/identity-theft-fraud-scams/identity-protection for information and guidance.

Remember that the IRS will never contact you by electronic means. This includes emails, phone calls, text messages, or social media channels. If you are ever in doubt whether contact by someone claiming to be from the IRS is legitimate, call our office first for verification.

2019 Standard Mileage Rates

58 cents per mile for business miles driven
20 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations

Holiday parties and gifts can help show your appreciation and provide tax breaks

The holiday season is in full swing. Your business may want to show its gratitude to employees and customers by giving them gifts or hosting parties. It’s a good idea to understand the tax rules involved. Are they tax deductible by your business and taxable to the recipients? Gifts to customers are generally deductible up to $25 per recipient per year. De minimis, noncash gifts to employees (such as a holiday turkey) aren’t included in their taxable income yet are deductible by you. Holiday parties are 100% deductible if they’re primarily for the benefit of non-highly-paid employees and their families. If customers attend, parties may be partially deductible. Contact us with questions.