Home Authors Posts by Norman Grill

Norman Grill

26 POSTS 0 COMMENTS

Norman Grill: Are Social Security benefits taxable?

Social Security benefits that may be taxable include monthly retirement, survivor, and disability benefits. Supplemental Security Income (SSI) payments are not taxable. Generally, you pay...

Norman Grill: Claiming an elderly dependent on your tax filing

Are you taking care of an elderly parent or relative? Whether it's driving to doctor appointments, paying for nursing home care or medical expenses,...

Norman Grill: Itemizing deductions may reduce your taxes

Many taxpayers opt for the standard deduction because it is easier. But sometimes itemizing your deductions is the better choice – often resulting in...

Norman G. Grill: Year-end business tax planning strategies, part II

Here are more end-of-year tax planning strategies that might reduce your business tax liability:   Small business health care tax credit. Small business employers with...

Norman G. Grill: Year-end business tax planning strategies, Part 1

There are a number of end-of-year tax planning strategies that might reduce your business tax liability. Here are a few of them: Deferring income Businesses using...

Norman G. Grill: New employer tax credit for family and medical...

Thanks to the passage of the Tax Cuts and Jobs Act (TCJA) last year, there's a new tax benefit for employers: the employer credit...

Norman Grill: Complying with internet sales tax

If your business delivers products or services across state lines, it’s critical to review your activities. Then take steps to ensure compliance with rapidly evolving sales tax requirements.

Norman G. Grill: Rental real estate investors get new IRS guidance...

If you invest in rental real estate or are considering it, the IRS has provided guidance to those seeking to take advantage of the new Section 199A “pass-through” deduction.

Norman G. Grill: How should you own your vacation home?

There are several different ownership structures that can be used for family vacation homes, including a corporation, trust, tenants in common and limited liability company.

Norman G. Grill: A new way to reduce capital gains taxes

Under this new federal program, reinvesting in a qualified opportunity fund allows you to defer, and even reduce, the tax on your original gain and to avoid tax on future appreciation within the QOF.

Norman Grill: Following tax reform, does it pay to itemize?

You have a choice each year when you file your income tax return: take the standard deduction or itemize your deductions. That choice, however, is more complicated under the Tax Cuts and Jobs Act.

Norman G. Grill: Electronic document storage options

There are many potential benefits to electronic document storage. Perhaps the biggest is a reduction in the amount of paper that must be sorted, organized and stored manually.

Norman G. Grill: Avoiding a costly business real estate mistake

The largest physical asset for many businesses is real estate, the buildings and land they sit on. Consider setting up separate ownership of the business and real estate to shield these assets from claims by creditors if the company ever files for bankruptcy.

Norman G. Grill: Will your company owe out-of-state sales taxes?

If you do business in other states, you may have to begin collecting and remitting sales taxes to those states. The U.S. Supreme Court has ruled that states have the authority to collect sales taxes from out-of-state companies if a nexus exists.

Norman G. Grill: Will your company owe out-of-state sales taxes?

If you do business in other states, you may have to begin collecting and remitting sales taxes to those states.