Business owners … you may qualify for one or more of three new tax credits announced and launched by the Treasury Department and the Internal Revenue Service.Read More
Required Minimum Distributions (RMDs) are mandatory for Americans who are participants in Individual Retirement Accounts (IRAs) or participate in a 401K plan. In this article we’ll lump all under the heading of retirement accounts. Since inception of the above plans, RMDs were the rule beginning at age 70½. With a stroke of his pen, President...Read More
You may have been among taxpayers who had an unexpected and unwelcomed experience last tax season … owing the feds rather than enjoying a refund. What happened? Well the tax code overhaul in 2017 resulted in positive tax savings for many if not most Americans. To complement these revisions to tax law, the IRS reduced...Read More
You’re familiar with Form I-9 to verify the identity and employment authorization of individuals hired for employment in the United States. Through April 30, employers can choose to use the previous edition dated 07/17/2017 or the new edition. The new edition is now available and becomes mandatory beginning May 1, 2020.Read More
THE EVER-EVOLVING FORM 1040 Hopes for a Postcard to File Your Taxes … Dashed Once Again! Earlier this year, the IRS heralded the introduction of a new and improved tax Form 1040. You’ve heard that the new tax law provides for a “postcard-sized” tax return. The intent was to simplify filing Form 1040 for the...Read More
YOUR LIFE CYCLE … AND THE TAX CUTS & JOBS ACT (TCJA) The TCJA Affects Your Tax Planning Regardless of Your Stage of Life While there is every likelihood that there will be continued guidance from the IRS or legislators, here’s how we see the TCJA as it affects various stages in life for individual...Read More
MAIL ADDRESSED TO YOU … RETURN ADDRESS: IRS Know What to Do to Avoid Panic Attack You may get a letter from the IRS, if not this year, perhaps some time in the future. When/if that happens, work hard not to get your exercise by jumping to conclusions. It does not mean that you are...Read More
END OF YEAR TAX STRATEGIES For Business Owners and Individual Taxpayers Yes … it’s hard to believe … the 2018 income tax season is nearly upon us. Certainly, seems like we just finished with 2017. As the old adage goes, “No time like the present”, to start thinking about what steps to take to be...Read More
SUPREME COURT RULING STUNS SMALL ONLINE BUSINESSES At Stake … Comply With Tax Laws of 50 States and 3,000+ Counties To Collect and Remit Sales Taxes In a decision earlier this year, the Supreme Court of the U.S. (SCOTUS) ruled that states may collect sales taxes on sales by businesses within the state … whether...Read More
QSEHRA: NOT A WORD … AN ACRONYM Health Benefit Option for Employers with 50 or Fewer Employees If you are an employer with 50 or fewer employees and have not heard of or participated in QSEHRA, this article is for you. First let’s flesh out the acronym QSEHRA … Qualified Small Employer Health Reimbursement...Read More
