Stock Transactions Reporting Can Be A Nightmare
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 […]
How to Pay Your Federal Taxes
Article Highlights: Electronic Funds Withdrawal Direct Pay Electronic Federal Tax Payment System Send a Check Pay by Cash Credit Card Installment Agreement Tap a Retirement Account If you aren’t one of those lucky Americans who gets a tax refund from the IRS, you might be wondering how you go about paying your balance due. Here […]
Be Tax Wise With Your Charitable Contributions
Article Highlights: Charitable Itemized Deductions Bunching Deductions Qualified Charitable Distributions Donor-Advised Funds Donations to charities can be deducted as an itemized deduction on your tax return. This means that to achieve any tax benefit from your charitable donations, you cannot use the standard deduction and instead must itemize your deductions. However, if the total of […]
The Tax Filing Deadline Is Around the Corner
Article Highlights: Extensions Balance-Due Payments Contributions to Roth or Traditional IRAs Estimated Tax Payments for the First Quarter of 2019 Individual Refund Claims for the 2015 Tax Year As a reminder to those who have not yet filed their 2018 tax returns, April 15, is the due date to either file a return (and pay […]
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 […]
Court of Appeals Rules for Clergy
Article Highlights: Internal Revenue Code Section 107 Court Ruling Employee Status Self-employed Status Parsonage Allowance Self-employment Tax Exemption from Self-employment Tax If you read our previous article related to a Wisconsin District Court ruling, you will recall that the judge in that case had ruled that Sec. 107(2) of the Internal Revenue Code was unconstitutional. Section 107 […]
The Tax Benefits of Going Green
Article Highlights: Refundable vs. Nonrefundable Credits Home Solar Credit Solar-Power Tax Credit Phaseout Is Solar Worth the Expense? Homeowner vs. Home Resident Solar Additions Leased Solar Systems Plug-in Electric Vehicles Multiple Vehicle Purchases Personal Tax Credits General Business Credits Congress uses tax deductions and tax credits to influence taxpayers’ actions. For instance, it seeks to […]
Should Investments Be Kept In A Safe Deposit Box?
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 Issues Related to Divorce
Article Highlights: Family Court Division of Property Spousal Buyout Debt Filing Status Joint and Several Liability Claiming the Children as Dependents Head of Household Filing Status Higher Education Tuition Credits Child Care Credit Child Tax Credit Earned Income Tax Credit Alimony Child Support Conflict of Interest Divorce is a traumatic event in anyone’s life, and […]
Will Capital Gains Be Changed?
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 […]