At LBF Group, it is our mission to build long-term, trusted client relationships. Combining our team’s accounting and technical expertise with our dedicated focus on each client’s individual needs, we strive to serve as a year-round partner—ensuring that clients stay on a healthy financial path and achieve their goals. We are also committed to investing in professional continuing education and state-of-the-art technology to achieve our core mission of providing the richest client experience possible.
With much of the focus on the new tax rates contained in the new tax bill for 2018, it is easy to forget that some big changes have been made to the allowable itemized deductions (Schedule A). The bill increases the standard deduction and removes the deduction for personal exemptions. This combined change will mean that many more filers will not itemize their deductions.
For...
This probably sounds like a boring subject that only we bean counters would care about, but don’t ignore this important topic. If your partnership experiences an ownership change, it might apply to you.
A technical termination occurs when 50% or more of the total ownership interest in a partnership’s capital and profits changes during a 12-month period. This could be an...
With a definitive uptick in hacking and ransomware, there has been a corresponding emphasis on cybersecurity. It is no longer simply a matter of arguing over erroneous credit card charges – personal data is being used to file fraudulent tax returns, claim social security benefits, and the like. Here at LBF, we want to make sure you are doing everything you can to protect your personal...
