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.

Financial Resolutions For 2019

According to a study from Fidelity Investments, financial New Years resolutions are on the rise. A year ago, approximately 27% of Americans admitted to having a financial resolution for 2018. This year that number is up 5% as a full … Continue reading

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Beware of the Alternative Minimum Tax

As tax reform efforts progressed late last year, there were high hopes that the individual Alternative Minimum Tax (AMT) would be repealed. Unfortunately, it still exists under the TCJA. The good news is that you are allowed a relatively generous … Continue reading

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Year End Tax Planning Considerations For The Individual

Below are some important steps to keep in mind as we approach the 2019 tax season: 1. Higher-income earners must be wary of the 3.8% surtax on certain unearned income. The surtax is 3.8% of the lesser of: 1. NET … Continue reading

Posted in Charitable Organizations, IRS, Personal Finance, Personal Taxes, Planning Strategies, Retirement, Tax Deductions, Tax Law Changes, Tax Tips, Taxes, Year End | Tagged , , , , , , , , , , ,

Several Tax Law Changes May Affect Bottom Line of Many Business Owners

The Internal Revenue Service is reminding business owners that tax reform legislation passed last December affects nearly every business. With just a few days left in the year, the IRS is highlighting important information for small businesses and self-employed individuals … Continue reading

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Personal Finance – End-of-the-Year Checklist

Take some time at the end of the year to focus on your finances. Whether your goals are to reduce taxes, or to simply focus more on retirement, now is a great time to get yourself prepared for next year. … Continue reading

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IRS Explains 20% Deduction for Qualified Business Income

The IRS has issued regulations on the new 20% deduction for qualified business income (QBI) created by the TCJA, also known as the pass-through deduction. Here’s a summary of the basic rules: For tax years beginning after Dec. 31, 2017, … Continue reading

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

Maximize Your Qualified Business Income Deduction

You may have heard a lot of talk in the news about a new deduction for “pass-through” income, but it’s actually available for qualified business income from a sole proprietorship (including a farm), as well as from pass-through entities such … Continue reading

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