by H2R CPA Team

What happened?
On September 7, 2017, Equifax, one of the three main American credit reporting agencies, announced a massive cybersecurity incident that exposed consumer information - including names, addresses, birth dates, and Social Security numbers - leaving millions vulnerable to identity theft.

What can I do?
1. To check if you or anyone in your household has been affected by the breach, visit equifaxsecurity2017.com.
2. Click on "Potential Impact," then "Check Potential Impact," where you will be asked to provide your last name and the last six digits of your Social Security number. 
3. You will receive a message indicating whether your personal information may have been impacted.
4. Whether or not your information was impacted, you have the option to sign up for free identity theft protection and credit monitoring. This can be done by clicking "Enroll," then following the instructions to go through the enrollment process with TrustedID Premier. The free enrollment period ends November 21, 2017.

by H2R CPA Team

In recent years, tax reform has provided significant savings to individuals, families, investors, and businesses. To help you make the most of the current tax breaks, H2R CPA's Tax Planning Guide 2017 offers tips for minimizing your tax liabilities and maximizing your potential savings.

In addition to year-round pointers, we offer suggestions for incorporating tax-efficient strategies into your long-term plans. By coordinating your tax strategies with your financial strategies, you may accomplish a variety of goals, like growing your business, funding your retirement, and saving for a child’s education.

If you have questions about personal or business tax planning, contact H2R CPA at 412-391-2920 or team@h2rcpa.com. Together, we can create a plan specifically for you, your business, and your future. 

If you would like a printed copy of the H2R CPA Tax Planning Guide 2017, please submit your request along with your name and address to marketing@h2rcpa.com.

by H2R CPA Team

When businesses provide meals to their employees, generally their deduction is limited to 50%. But there are exceptions. One is if the meal qualifies as a de minimis fringe benefit under the Internal Revenue Code.

A recent U.S. Tax Court ruling could ultimately mean that more employer-provided meals will be 100% deductible under this exception. The court found that the Boston Bruins hockey team’s pregame meals to players and personnel at out-of-town hotels qualified as a de minimis fringe benefit.

Qualifying Requirements

For meals to qualify as a de minimis fringe benefit, generally they must be occasional and have so little value that accounting for them would be unreasonable or administratively impracticable. But meals provided at an employer-operated eating facility for employees can also qualify.