Why You Shouldn’t Wait to File Your 2018 Income Tax Return
The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider [...]
You May Be Able to Save More for Retirement in 2019
Retirement plan contribution limits are indexed for inflation, and many have gone up for 2019, giving you opportunities to increase your retirement savings: Elective deferrals to 401(k), 403(b), 457(b)(2) and [...]
Many Taxpayers Will Pay No Long-Term Gains and Dividends
Do you have long-term capital gains or qualified dividends? If so, there's good news: After the Tax Cuts and Jobs Act (TCJA), you might still qualify for the 0% federal [...]
IRS Ups the Ante on Retirement Contributions
Every year, the IRS releases cost-of-living adjustments to qualified retirement plan amounts. For tax year 2019, many of the limits applicable to pensions and other retirement plans will increase. But [...]
Penalty Relief for Taxpayers
Information from irs.gov Here’s what taxpayers should know about penalty relief Taxpayers who make an effort to comply with the law, but are unable to meet their tax obligations due [...]
2018 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may [...]
New Law, New Limit on Deductions for Business Interest Expense
The Tax Cuts and Jobs Act (TCJA) imposes a new limitation on deductions for business interest expense. This is a permanent change for tax years beginning in 2018 and beyond. [...]
Get a Letter from the IRS? Here’s What You Need To Know
Information from IRS.gov Don’t ignore it. Most IRS letters and notices are about federal tax returns or tax accounts. Each notice deals with a specific issue and includes specific instructions [...]
How Does the IRS Contact Taxpayers?
Information from IRS.gov To help you avoid becoming a victim of scammers who pretend to be from the IRS with a goal of stealing personal information, know how the IRS [...]
Why the “Kiddie Tax” is More Dangerous Than Ever
Once upon a time, some parents and grandparents would attempt to save tax by putting investments in the names of their young children or grandchildren in lower income tax brackets. [...]
Close-up n the New QBI Deduction’s Wage Limit
The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The [...]
TCJA: What You Need to Know
Over the past several months, we’ve digested the many tax law changes brought by the Tax Cuts and Jobs Act (TCJA). These changes bring a host of uncertainties as well [...]
Taxpayers: Know the Signs of a Scam
Information from irs.gov Many taxpayers recently filed their taxes and may be waiting for a response from the IRS. Because of this summertime tends to be a period when thieves [...]
Net Investment Income Tax: Does It Apply to You?
Information from irs.gov If an individual has income from investments, the individual may be subject to net investment income tax. Effective Jan. 1, 2013, individual taxpayers are liable for a [...]
Plan Ahead for Vacation Home Rentals
Information from irs.gov During the summer, taxpayers often rent out their property. They usually think about things such as cleanup and maintenance, but owners also need to be aware of [...]