What year did you join Scott and Company? I joined the firm in 2017. Where did you go to college? I received my Bachelor’s of Science in Business Administration from the University of Alabama in Huntsville. Why did you choose Scott and Company? I was looking for an opportunity to showcase my government accounting background…
Many computer users are reluctant to engage in online shopping, banking or investment transactions for fear that their account information will be stolen. According to the Identity Theft Resources Center, between January 2005 and April 2018, there were 8,870 breaches and 1,078,674,491 records exposed to bad actors. A breach is defined as an incident in…
Prior to the recent tax law changes, taxpayers were allowed to deduct qualifying mortgage interest on loans up to $1 million, plus the interest on an additional $100,000 in home equity debt. The new tax law clearly limits the mortgage interest deduction to $750,000 worth of debt; however, treatment of home equity loan debt was…
The new GOP tax law places high income and property tax states at a distinct disadvantage. Before the new tax bill, any and all state and local taxes (commonly referred to as SALT) could be taken as itemized deductions without limitations. SALT includes both income and property taxes, so states where both are high, such…
According to a report from FlexJobs and Global Workplace Analytics, the number of remote workers has increased since 2005. “The 2017 State of Telecommuting in the U.S. Employee Workforce Report” found that 3.9 million workers now perform at least 50 percent of their working hours by telecommuting from their residence. This increase in remote workers…
What year did you join Scott and Company? I joined Scott and Company in 2016. Where did you go to college? I attended the University of South Carolina. Go Gamecocks!! Why did you choose Scott and Company? I chose to work at Scott and Company because I enjoy the smaller firm atmosphere. Most of the…
Some experts are predicting that the recent tax legislation will create a ton of new business creation and activity—just not the kind that lawmakers originally intended. These people are predicting a surge in efforts for reclassification and the organization of cover companies by employees so they can have their salaries recognized as business income, significantly…
When it comes to selling online, gaining users’ trust is a serious matter for businesses. Based on a July 2015 poll from the U.S. Census Bureau and the National Telecommunications and Information Administration, security and privacy concerns are a big reason consumers are not doing more online. The survey found that 45 percent of respondents…
Cryptocurrency is hot right now. As it emerges as an asset class of its own, many people are still confused about how to treat it for federal income tax purposes. In response, the IRS issued guidance back in 2014 that treats virtual currencies that are convertible to cash as a capital asset—but it’s not as…
With all the variables involved, the new federal tax reform can certainly be confusing. Some sorting out is in order. Understandably, there are lots of questions about how the changes will affect the wallets of individuals and the bottom line of businesses. How will it change and affect income brackets? What deductions are still allowable?…
