Bowman's Blog

An Update on Home Mortgage Interest Deductions

Posted: Apr 21, 2017
If you own a home with a mortgage, you should receive an IRS form from your lender each year with information that is used to claim an itemized deduction for qualified residence interest. For 2016, that form should include additional information that could trigger [...]

Remember the New FBAR Filing Deadline

Posted: Apr 14, 2017
Do you have an interest in — or authority over — a foreign financial account? If so, the IRS wants you to provide information about the account by filing a form called the "Report of Foreign Bank and Financial Accounts" (FBAR).

Bowman at the Rutgers University Spring Career Fair

Posted: Apr 14, 2017
  On April 6, 2017, Bowman & Company LLP Principal Robert E. Biddle, Jr. and Manager Catherine Hess, CPA, exhibited at the Rutgers University, Camden, Spring Career Fair.

4 Tips for Claiming Higher Education Credits

Posted: Apr 07, 2017
The Internal Revenue Code offers two federal income tax credits for post-secondary education expenses: the American Opportunity credit, and the Lifetime Learning credit. (See "The Basics of Higher Education Credits" at right.)

Self-Employment Tax Reduction Strategies for Spouse-Owned Businesses

Posted: Mar 31, 2017
If you own a profitable, unincorporated business with your spouse, you're probably fed up with high self-employment (SE) tax bills.

Promote From Within Successfully: A Management Cookbook

Posted: Mar 24, 2017
Promoting non-supervisory employees to management roles can be a morale-booster for the promoted employee, and for others. Seeing a fellow employee move up the ladder gives coworkers reason to expect that, someday, they could rise to that leve [...]

Revised OSHA Regs Have Kicked In

Posted: Mar 17, 2017
The first part of the new OSHA "illness and injury" reporting regulations is straightforward enough. It states that those who are already required to file these reports must now submit the forms electronically, via a sec [...]

Senior Manager John Culbertson to Share his Expertise - What's Your Laundromat Worth?

Posted: Mar 16, 2017
On May 4th, 2017, Equipment Marketers is having its 24th Annual Trade Show & Service Seminar.  The trade show focuses on the commercial laundry business. Throughout the day, they will have ha [...]

Consider Section 179 Deductions for Real Estate Expenses

Posted: Mar 10, 2017
The Section 179 deduction for qualified real property expenses was made permanent under the Protecting Americans from Tax Hikes (PATH) Act of 2015. However, claiming this deduction isn't a no-brainer. Here are the pros a [...]

Remember RMDs this Tax Season

Posted: Mar 03, 2017
Did you know that, once you turn age 70½, you must start taking mandatory annual withdrawals from your traditional IRAs, including any simplified employee pension (SEP) accounts and SIMPLE IRAs that you set up as a small [...]