Nov 7, 2019 | Tax Credit, Tax Deductions
The last thing anyone wants is to find out is that the IRS is billing them for a couple of thousand dollars or that they owe a penalty. As we have heard countless times, it is better to overpay and receive a return than to pay too little and have another bill to worry...
Oct 28, 2019 | Filing Status, Tax Deductions
When a taxpayer files their tax return, they need to know their filing status. What folks should remember is that a taxpayer’s status could change during the year. So, any time is a good time for a taxpayer to learn about the different filing statuses and which one is...
Sep 24, 2019 | Tax Deductions
The Treasury Department and the Internal Revenue Service today released final regulations and additional proposed regulations under section 168(k) of the Internal Revenue Code on the new 100% additional first-year depreciation deduction that allows businesses to write...
Aug 24, 2019 | Tax Deductions
The last thing anyone wants is to find out that the IRS is billing them for a couple of grand or that they owe a penalty. As we have heard countless times, it is better to overpay and receive a return than to pay too little and have another bill to worry about. If you...
Aug 6, 2019 | Tax Deductions
Summertime is family vacations, going to the beach and anything else from buying a new house to cleaning their old one. Taxpayers who itemize their deductions may be doing things this summer that will affect the tax returns they file next year. The higher standard...
Aug 2, 2019 | Business Expenses, Tax Deductions
Please re-verify if you are still eligible to continue to claim the business use of your car even though you may have on past tax returns. Some taxpayers can. Some cannot. Here’s a breakdown of which taxpayers can claim this deduction when they file their tax returns....
