Author Archives: cozbycpa

About cozbycpa

Heather L. Cozby is a CPA on the South Shore and Cape Cod. The managing partner of Cozby & Company, LLC, Heather has the resources and experience necessary to provide quality professional services on a timely basis and at a reasonable cost. She specializes in tax planning & preparation; audit, review & compilation services; management advisory services; bookkeeping; and accounting. Her unique niche is in working with homeowners’ associations and condominium trusts, advising with rental real estate, and providing outsourced financial consulting for mid-sized companies. She is more entrepreneurial than most accountants, and offers the best of both worlds - providing the services of a larger firm while retaining the ability to connect with her clients on a personal level.

Business Owners can Claim a Qualified Business Income Deduction

The following article was published by the IRS. Eligible taxpayers may now deduct up to 20 percent of certain business income from domestic businesses operated as sole proprietorships or through partnerships, S corporations, trusts, and estates. The deduction may also … Continue reading

Posted in Corporate Taxes, IRS, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Relief, Tax Tips, Taxes | Tagged , , , , | Leave a comment

Child Tax Credit and Credit for Other Dependents

Many parents claim the child tax credit to help with the cost of raising children. This year the credit may help even more parents because the income limit for those who qualify has increased to $400,000 for married couples filing … Continue reading

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Seniors Who Turned 70½ Last Year Must Start Receiving Retirement Plan Payments by April 1

In most cases, Monday, April 1, 2019, is the date by which persons who turned age 70½ during 2018 must begin receiving payments from Individual Retirement Accounts (IRAs) and workplace retirement plans. Two payments in the same year The payments, … Continue reading

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Bad Money Moves We All Make

All of us have made bad decisions in our life at some point, and we will likely make some more in the future. While it’s always a good idea to avoid these scenarios whenever possible, this is especially true when … Continue reading

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Here are Five Facts about the New Form 1040

The following article was published by the IRS. There are several changes to the 2018 Form 1040. However, taxpayers who file electronically may not notice the changes as the tax return preparation software guides people through the filing process. The … Continue reading

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Mortgage Interest Deduction

If you have a mortgage or home equity loan, it is important to know that tax reform changes have an impact on the mortgage interest deduction. The first change is that you can deduct interest only if you are using … Continue reading

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Recent Developments That May Affect Your Tax Situation

The following is a summary of important tax developments that occurred in October, November, and December of 2018 that may affect you, your family, your investments, and your livelihood. Business meals. One of the provisions of the Tax Cuts and … Continue reading

Posted in Corporate Taxes, IRS, Personal Taxes, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Tips, Taxes, Uncategorized | Tagged , , , , , , , ,