Featured Credits and Deductions for Businesses
Saturday, June 15
Featured credits and deductions for businesses DeductionsQualified business income deductionMany individuals, including owners of businesses operated through sole proprietorships, partnerships, S corporations, trusts and estates may be eligible for a qualified business income deduction, also ca...
Extension filers should avoid these errors when filing their returns
Wednesday, April 17
Extension filers should avoid these errors when filing their tax returnJust like taxpayers who file their taxes by the April deadline, those who filed an extension should also do everything to make sure their tax return is complete and accurate. Errors on a tax return can mean it will take longer...
There are six new schedules some taxpayers will file
Friday, March 01
There are six new schedules some taxpayers will file with the new Form 1040The 2018 Form 1040 replaces prior year Forms 1040, 1040A and 1040EZ. The 2018 Form 1040 uses a building-block approach that allows individuals to file only the schedules they need with their federal tax return. Many people...
IRS reminds employers, other businesses of Jan. 31 filing deadline
Tuesday, January 29
IRS reminds employers, other businesses of January 31 filing deadline for wage statements, independent contractor formsThe Internal Revenue Service reminded employers and other businesses of the January 31, 2019, filing deadline that applies to filing wage statements and independent contractor fo...
IRS confirms tax filing season to begin January 28th
Monday, January 07
Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown. I...
Year-End Wrap Up. Highlights of the 2018 Income Tax Year.
Sunday, January 06
On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law and threw everyone for a loop with major changes. The following is a year-end review of the major changes we are facing this year. Tax Rates The TCJA reduced individual tax rates to 10%, 12%, 22%, 24%, 32%, 35% and 37% for...