How’s Your Business Doing? – By Kelly J. Bullis

Kim Pilant Kelly's Articles

Its been almost 1 year since the new Trump Tax Law / economy took effect. Have you seen your business get more busy? Are you making a larger profit this year? Did you need to hire any new employees this year? Did you move to a larger location this year? Did you purchase some new equipment this year? Did you …

Tax Burden Still High For Top Earners – By Kelly J. Bullis, CPA

Kim Pilant Kelly's Articles

Well, for us tax preparers, another “Tax Season” is finally in the bag. October 15th was the big day. We’ve had fun showing all our clients what to look forward to with the new Trump Tax Law for 2018. Most business owners are already planning on how to hire new employees, purchase new business equipment, expand their facilities, give out …

New Family Leave Credit for Businesses – By Kelly J. Bullis

Kim Pilant Kelly's Articles

As an employer, don’t you just grind your teeth when an employee calls in sick and you suspect that they are just out skiing or doing something fun while using being sick as an excuse to get out of work? Are you one of those many generous employers who actually pays “Sick Leave,” even to the “Hooky From Work” folks? …

Do You Itemize Your Deductions Or Not? – By Kelly J. Bullis , CPA

Kim Pilant Kelly's Articles

How many times have you heard somebody tell you, “You need some tax deductions.” ? You know? Mortgage. Charity. Extra Sales Tax on large purchases. Auto Registrations. Property Taxes. Medical Expenses. Stock Broker Fees. Investment Interest Expense. Employee Business Expenses. Etc. Well, the new Trump Tax Law (Officially known as the “Tax Cuts and Jobs Act” or TCJA for short), …

A Once in a Life-Time Opportunity – By Kelly J. Bullis, CPA

Kim Pilant Kelly's Articles

Having now lived over 60 years on this good earth, aside from college, all of them in Carson City/Douglas County, I have never seen such a perfect storm of broad economic growth for a long period like we are now all facing. The infrastructure challenges, such as roads, highways, water, sewer, broadband, schools, shopping, medical care, etc. alone are daunting. …

Computing New Tax Law Business Deductions – By Kelly J. Bullis

Kim Pilant Kelly's Articles

The New Tax Law officially known as “Tax Cuts and Jobs Act of 2017” has a section in there for non-C Corporations to deduct up to 20% of their “qualified business income.” In the CPA universe, we are now affectionately referring to that as the “Section 199A deduction.” In my simple world, there would be one tax rate applied to …

To Be or Not To Be In Business in 2018 – By Kelly J. Bullis

Kim Pilant Kelly's Articles

Once in a long while, there is one of those perfect convergences of all the right ingredients for an explosive business opportunity environment. We’re in one now! Interest Rates are still low; Real Estate is still quite affordable; People are moving into Western Nevada at a faster and faster rate; The Tahoe Reno Industrial Center is booming; We finally have …