Summers McNea and Company PC logo

Summers, McNea & Company, PC


80 25th Street West, Billings, MT 59102


Phone: 406-652-2320

Fax:     406-652-2043

January 2020

Tax Credits or Deductions

During this tax season, it can pay to understand the two types of tax breaks the IRS offers. The first includes tax deductions, which reduce your taxable income before determining your tax bill. The second is a tax credit, which reduces any taxes you owe. Both can help reduce your 2019 tax bill, whether you file as an individual, a business or both.

Read more

Real Estate & QBI

The IRS issued a final ruling explaining how to qualify for a real estate income safe harbor to receive the Qualified Business Income (QBI) deduction. You will need to make this safe harbor determination annually.

Read more

Get Ready To File Your Taxes

The beginning of another year means it’s time to get ready for the annual task of  ling your tax returns. Whether you you file as an individual, a business or both, you can get a head start by working with a tax professional to  nd every tax break to which you’re entitled.

Read more

January 2020 Client Profile

Ray recently received a letter from the IRS, saying that he underpaid his 2017 taxes by a few thousand dollars, which he wants to dispute. What are his next steps? Can his tax professional help him resolve this dispute with the IRS?

Read more

Resolve To Become More Competitive

Business owners typically have little time for planning. However, making that time during this New Year — and new decade — can help most businesses become more competitive now and in the future.

Read more

Resolve To Become More Financially Secure

Many people make resolutions to coincide with the advent of the New Year, including becoming more financially secure. If you want to improve your financial outlook, now is a good time to take steps to achieve this goal.

Read more

January 2020 Q and A

Let's talk IRS scams, and tax deductions for contributions to a Simplified Employee Pension.

Read more

January 2020 Short Bits

Few employers are “very confident” their employees are on the way to becoming retirement-secure, according to the report, “Employers: The Retirement Security Challenge,” from the Transamerica Center for Retirement Studies.

Read more


Enter your Name and Email address to get
the newsletter delivered to your inbox every month.


Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.