Big Firm Capacity, Small Firm Personality

Pensacola, FL

105 E. Gregory Sq.


John Pharr CPA

Big firm capacity. Small firm personality.


Category: Blog

New Tax Bill Questions

New Tax Bill Questions Tax reform discussions continue in Washington with legislation expected to be released very soon. GOP lawmakers in the House and Senate appear to be aiming for a comprehensive overhaul of the Tax Code. Tax reform Although the specifics are not yet known, a GOP tax bill is expected to lower the individual and corporate tax rates and eliminate many tax credits and deductions. The corporate tax rate could be lowered to […]

Business Entertainment Expenses

Business Entertainment Expenses As a business owner, you are eligible to deduct certain expenses related to entertaining clients. The expenses must be ordinary to the business and/or helpful to the business, and cannot be lavish or extravagant. Basically, the entertainment can’t be something out of the ordinary and out of the normal budget. The entertainment expenses are limited to a 50% deduction limit. To be sure the entertainment expense is eligible for deduction it must […]

Can You Itemize Your Miscellaneous Deductions?

Can You Itemize Your Miscellaneous Deductions? Miscellaneous deductions you paid for as an employee can reduce your tax bill if they are work related expenses, but you must itemize deductions when you file to claim these expenses. If you usually claim the standard deduction, it might be time for you to start thinking about itemizing to lower your taxes. Here are some tax tips that may help you reduce your taxes: Deductions Subject to 2% […]