Roth IRAs versus Traditional IRAs: The Basics

By Kapil Handa Individual Retirement Arrangements (IRA) provide one great way to save for retirement. Roth IRAs and Traditional IRAs are the two types of IRAs that individuals can choose from. These two plans have a few differences, with a major one being when savings are taxed. With the help of a tax professional, individuals […]
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It’s Tax Planning Time

Now is the ideal time to schedule a tax-planning session. Your tax return outcome is still fresh, and it’s early enough in the year to make corrective action to take advantage of the numerous new tax law changes taking place in 2018. Here’s a brief overview of some of the new tax issues that you […]
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Hospitality Accounting Services

The Chugh CPAs, LLP team is experienced in serving the accounting needs of the hospitality industry. With more than 30 years of experience, our team is skilled at advising clients in forming, growing, and managing their hotel businesses. We condense your numbers into accurate financial statements to help you make smarter, informed decisions about your  […]
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Medical Practice Accounting Services

We are committed to helping your medical practice achieve financial strength, so you can focus on what matters most – meeting with patients and running a successful practice. From deciding how to structure your medical practice, to guiding you through your financials, the Chugh CPAs, LLP team makes your numbers practical and easy to understand so you […]
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Mileage rates for 2018

By Baljeet Singh The IRS recently increased mileage rates for 2018 travel in multiple categories. The standard business mileage rate increased by 1 cent to 54.5 cents per mile. The IRS also announced an increase in medical and moving mileage rates by 1 cent, to a total of 18 cents per mile. However, charitable mileage […]
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IRS Extends Due Date for Employers and Providers to Issue Health Coverage Forms to Individuals in 2018

By: Christine Mirador 2018 Due date for entities to provide 2017 health coverage information to individuals has been extended by the IRS. The new deadline for insurers, self-insuring employers, other coverage providers, and applicable large employers to provide Forms 1095-B or 1095-C to individuals is now March 2, 2018, which is a 30-day extension from […]
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Small Businesses: IRS Advice on Averting Identity Theft

By: Pratibha Lakshmanan The IRS, state tax agencies and the nation’s tax industry joined together to warn small businesses to be on-guard against a growing wave of identity theft against employers. Small business identity theft is a big business for identity thieves. Just like individuals, businesses may have their identities stolen and their sensitive information […]
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International Information Reporting For U.S. Individuals

By: Hemant Patel With the increased globalization of talent and investments, it is common to see U.S. citizens and residents living outside U.S. for extended periods or holding foreign investments outside U.S. U.S. citizens and residents are subject to taxes on their worldwide income. They are also subject to extensive information reporting requirements of their […]
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