Your Payroll Tax Cut is Safe for Now!
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
October 2022 Individual Due Dates
October 11 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September, you are required to report them to your employer on IRS Form 4070 no later than October 11. Your employer is required to withhold FICA taxes and income tax withholding […]
Bunching Your Deductions Can Provide Big Tax Benefits
Article Highlights: Itemized Versus Standard Deductions Medical Expenses Taxes Charitable Contributions If your tax deductions normally fall short of itemizing your deductions or even if you are able to itemize, but only marginally, you may benefit from using the “bunching” strategy. The tax code allows most taxpayers to utilize the standard deduction or itemize their deductions if […]
Are You an Employee or an Independent Contractor?
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
Big Changes Coming for Investors in 2013
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
Tax Relief for Victims of Hurricane Ian
Article Highlights: Federal Disaster Declaration. Filing Dates Extended. Option as When to Declare the Disaster Loss. Records Located Within Disaster Area. Other Disaster Areas. The Federal government provides special tax law provisions to help taxpayers and businesses recover financially from the impact of a disaster, especially when the federal government declares their location to be a […]
ABLE Accounts And Individuals With Disabilities
Article Highlights: Asset limitations when receiving Medicaid or federal Supplemental Security Income Annual Contribution Limits $100,000 Account Limit Qualified Expenses ABLE Account Beneficiary Compensation Saver’s Credit Sec 529 Plan Rollovers Congress created Achieving Better Life Experience (ABLE) accounts in 2014. Prior to the creation of the ABLE accounts, individuals with disabilities who were eligible for […]
IRS Reference Code 1581
You can check the status of your return and your refund check (for paper returns) or direct deposit (for electronic returns) at the IRS.gov website. The “Where’s My Refund?” portal provides an estimate of when you should expect your refund and any status using a reference code. See a quick reference guide in plain language to […]
IRS Reference Code 1571
You can check the status of your return and your refund check (for paper returns) or direct deposit (for electronic returns) at the IRS.gov website. The “Where’s My Refund?” portal provides an estimate of when you should expect your refund and any status using a reference code. See a quick reference guide in plain language to […]
Hurricane Ian SBA Disaster Assistance
Article Highlights: Counties that Qualify For Loans Application Deadlines Types of Disaster Loans Interest Rates Hurricane Ian Disaster Fact Sheet Application Assistance The Small Business Administration (SBA) provides disaster assistance for homeowners, renters, nonprofits, and businesses of all sizes affected by Hurricane Ian. Caution: The following list of qualifying counties is preliminary and can change as […]