Employment Records Retention

Employment Records Retention

Whether you are hiring your first employee, or you’ve got a thousand, there are strict guidelines as to what should be kept and how long. Employment records should be maintained for at least four years and should be easily accessible should IRS come knocking....
Scam Phone Calls

Scam Phone Calls

Lately, I and other tax professionals have received calls from taxpayers who have received phone calls of this kind. Luckily, they questioned the validity of the call. Here is the bottom line on the telephone scam to obtain your personal tax information.  IRS...
2018 Winter Newsletter

2018 Winter Newsletter

Here’s our most recent newsletter! Gregory K Cole II, PAFMPartner & Chief Financial Officer304.255.0204, x 115kcole@AmericanTaxCo.com Katlyn ColePartner & Chief Operating Officer304.255.0204, x 114colek@AmericanTaxCo.com Jason AcordFirm...
New Deduction for Business Owners

New Deduction for Business Owners

One of the more complex changes from the Tax Cuts and Jobs Act is the ability to reduce taxable individual income for those who receive income from a pass-through business entity such as a sole proprietorship, partnership, S corporation or trust/estate. Recipients of...
Like-Kind Exchanges Now Limited to Real Property

Like-Kind Exchanges Now Limited to Real Property

The Internal Revenue Service today reminded taxpayers that like-kind exchange tax treatment is now generally limited to exchanges of real property. The Tax Cuts and Jobs Act, passed in December 2017, made tax law changes that will affect virtually every business and...