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Shaw, Hull and Navarrette, CPA's

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Tax-Related Provisions in CARES Act

Tax-Related Provisions in CARES Act

We hope that you are keeping yourself, your loved ones, and your community safe from COVID-19. We want to update you on the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Congress’s gigantic economic stimulus package that the...

COVID -19 and Tax Deadlines

COVID -19 and Tax Deadlines

Right now, your highest priority is the health of those you love and yourself. But if you have time to read about some non-medical but important matters related to the health crisis, here is a summary of IRS action already taken and federal tax legislation already...

New Nebraska Filing Requirement

New Nebraska Filing Requirement

There is a new filing requirement that impacts pass-through entities in Nebraska. Pass-through entities include LLC's, Partnerships and S-corporations.  The Nebraska State Legislature recently passed LB 512 which was signed into law on May 30, 2019.  The new law...

Reconciling a Bank Account

Reconciling a Bank Account

One of the basic steps in keeping an accurate record of a bank account, whether it is a business account or a personal account, is performing a periodic reconciliation of the account.  This basic step is important for many reasons including ensuring that any...

IRA Inheritance Rules for Surviving Spouses

IRA Inheritance Rules for Surviving Spouses

If you have been named the beneficiary of your spouse’s IRA, it is important that you understand the rules regarding IRA inheritance and the potential opportunities to defer taxes. The rules relating to inherited IRA’s are complex and it is important to consult with...

Inheriting an IRA

Inheriting an IRA

Inheriting an IRA can be a financial boon to a beneficiary. If the beneficiary is aware of all of their options when they inherit an IRA, they may be able to defer the tax implications of the IRA and further increase the financial benefits of the inheritance. Today we...

Nebraska Inheritance Tax

Nebraska Inheritance Tax

Nebraska is one of a small handful of states that taxes heirs on their inheritance. The tax rate varies based on the relationship of the recipient to the decedent. If the decedent’s property passes to their spouse in full, there is no inheritance tax due. Any property...

Qualified Business Income Deduction

Qualified Business Income Deduction

One of the significant new tax deductions taking effect in 2018 under the new tax law is the qualified business income deduction. It should provide a substantial tax benefit to individuals with “qualified business income” from a partnership, S corporation, LLC, or...

Countdown to Tax Day!

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