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  • Alternative Minimum Tax

    Alternative minimum tax (AMT) rules were originally designed to ensure that high-income individuals who take advantage of multiple tax breaks will owe tax each year. In recent years, however, middle-income taxpayers are likely to owe the AMT. Here's an overview of how the AMT works and possible ways to minimize it.AMT is an alternate set of tax rules that are similar to the regular federal income tax system.

  • The Multiple-Employer Tax Withholding Shortfall

    For dual income earners, both singles and married couples, they believe they are withholding the correct amounts based on their earnings, but they still owe money. There is a blind spot in their calculations.Most people do contemplate the impact of additional sources of income into the family unit, whether from a second job, a new job, or the employment of a spouse. The withholding tables assume that the individual being paid is the only wage earner in the family unit and the wages are the only ...

  • New Overtime Rules

    On December 1, 2016, the minimum salary threshold for The Fair Labor Standards Act (FLSA) white-collar exemptions increases to an annual $47,476, which increases the number of employees to whom you must pay overtime if they work more than 40 hours in a week.In May 2016, the Department of Labor (DOL) published its Final Rule updating the overtime regulations. The Final Rule defines which white collar workers are protected by the minimum wage and overtime standards of the Fair Labor Standards Act....

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BHGP&S Co., Inc. CPAs, offer Accounting, Tax, Financial Planning and Business Consulting services with an eye on your future. Whether you are a business owner looking to grow your company or reduce income taxes, or an individual searching for intelligent, practical financial guidance, our focus at BHGP&S Co., Inc. is to help you determine financial goals and to help you take the necessary steps to achieve those goals. We view our relationship with clients as a partnership, and believe that our success is a result of your success.

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