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529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs. Here is everything you need to know about setting up and using a 529 plan.


For kids, the middle of the year means summer break. For business owners, it means time to take a breather with the management team and engage in a productive midyear review.


Post-TCJA withholding tables could put you at risk of significantly underwithholding your federal income taxes and being hit with an unexpectedly high tax bill when you file your 2018 tax return next year. Here’s what to do to avoid this outcome.


What 2017 tax records can you toss once you’ve filed your 2017 return?


If you recently filed your 2017 individual income tax return or filed for an extension, it may seem like some time off from thinking about taxes is in order. But taking such a break could be costly, especially this year.


Bob discusses the new tax withholding tables and other changes for your 2018 taxes on the KFAB morning show.


Companies nowadays have a wide variety of outsourced services to choose from. But deciding whether to engage an external provider calls for a careful assessment of the benefits vs. risks.


Between vacations, trips to the pool and carefree schedules, your taxes may be the furthest thing from your mind. But summer is actually the perfect time to meet with your accountant!


We would like to introduce you to another partner at Berger & O’Toole, CPAs, LLC; Stephen Jensen. Stephen joined the firm in August of 2010.


We want to take this opportunity to introduce you to our fourth partner, Joe Pritchard. Joe joined our team in October 2012 and he runs the Berger & O’Toole office in Spalding, NE.


Together with Bob Berger, Dennis O’Toole founded Berger & O’Toole, an accounting firm, in 1997.


Get to know the talented people that make up Berger and O'Toole, CPAs, LLC. We start with partner Robert Berger, who founded Berger & O’Toole, CPAs, LLC in 1997 with Dennis O’Toole. Prior to joining forces with Dennis he founded Freed and Berger, CPAs in 1987.


Here are some of the reasons why you should be working with an accountant.

The IRS has released long-awaited guidance on new Code Sec. 199A, commonly known as the "pass-through deduction" or the "qualified business income deduction." Taxpayers can rely on the proposed regulations and a proposed revenue procedure until they are issued as final.


The IRS’s proposed pass-through deduction regulations are generating mixed reactions on Capitol Hill. The 184-page proposed regulations, REG-107892-18, aim to clarify certain complexities of the new, yet temporary, Code Sec. 199A deduction of up to 20 percent of income for pass-through entities. The new deduction was enacted through 2025 under the Tax Cuts and Jobs Act (TCJA), ( P.L. 115-97). The pass-through deduction has remained one of the most controversial provisions of last year’s tax reform.


The House’s top tax writer has unveiled Republicans’ "Tax Reform 2.0" framework. The framework outlines three key focus areas:.


The IRS faces numerous challenges, most of which are attributable to funding cuts, the National Taxpayer Advocate Nina Olson told a Senate panel on July 26. "The IRS needs adequate funding to do its job effectively," Olson told lawmakers.


Senate Finance Committee (SFC) Republicans are clarifying congressional intent of certain tax reform provisions. In an August 16 letter, GOP Senate tax writers called on Treasury and the IRS to issue tax reform guidance consistent with the clarifications.


Taxpayers and practitioners need clarity on certain S corporation issues by next tax filing season, the American Institute of CPAs (AICPA) has said. In an August 13 letter sent to Treasury and the IRS, the AICPA requested immediate guidance on certain S corporation provisions under the Tax Cuts and Jobs Act (TCJA) (P.L. 115-97).