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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 House has approved two tax bills that are part of Republicans’ three-pronged "Tax Reform 2.0" package. The two measures, approved by the House on September 27, focus on retirement savings and business innovation.


The House has approved a tax bill that would make permanent tax reform’s individual and small business tax cuts enacted last December. The controversial bill is part of Republican’s three-bill "Tax Reform 2.0" package, two of which cleared the House on September 27 (see the previous story in this Issue).


Stakeholders are urging the IRS to clarify its guidance on tax reform’s new passthrough deduction. The IRS held an October 16 public hearing on proposed rules for the new Code Sec. 199Apassthrough deduction at its headquarters in Washington D.C. The IRS released the proposed regulations, REG-107892-18, on August 8.


Top Senate tax writers have introduced a bipartisan bill to prevent duplicative taxation on digital goods and services. The bill aims to establish a framework across multiple jurisdictions for taxation of digital goods and services, including electronic music, literature, and mobile apps, among other things.


The IRS has released Draft Instructions for the 2018 Form 1040. Additionally, the IRS has cautioned taxpayers that the draft instructions are subject to change. The IRS released a draft of the 2018 Form 1040 and six accompanying schedules last June.


The IRS’s new Commissioner was officially sworn in on October 1 by Treasury Secretary Steven Mnuchin. IRS Commissioner Charles "Chuck" P. Rettig will lead the implementation of tax reform enacted last December under the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97).


The Senate Small Business Committee held an October 3 hearing on expanding opportunities for small businesses through the tax code. Senate lawmakers examined tax reform’s effect on small businesses and discussed witnesses’ proposals to address ambiguity in the new tax code.