Tax & Accounting Blog
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Twin Cities Tax Manager Raising Funds for LLS
Smith Schafer Tax Manager, Kyle Spicer, CPA, is a candidate for the Leukemia & Lymphoma Society’s Man of the Year. The Man & Woman of the Year is a philanthropic contest for Leukemia & Lymphoma Society. Candidates raise funds in honor of two local...
2018 Health Savings Account Contribution Limit Change
In October 2017, the Internal Revenue Service (IRS) released the 2018 contribution and benefit limits for retirement and other benefit plans types. The IRS recently announced revisions to the Health Savings Account (HSA) contribution limit for...
Vehicle Expense Deductions – Follow Detailed Recordkeeping Rules
Many business owners fail to follow the strict tax rules for substantiating vehicle expenses.
Alternative Minimum Tax Calculations
The alternative minimum tax (AMT) was enacted back in 1969 to ensure high-income individuals do not take advantage of multiple tax breaks and avoid paying federal tax.