Category: Tax Central

Article Highlights: IRS Notices  CP Series Notice  Automated Notices  Frequent Errors  ID Theft  What You Should Do  What We Will Do  Now that most tax

Article Highlights: Tax Credit  Credit Phase-Out  Tesla  General Motors  Determining the Credit  Off-Road Vehicles and Golf Carts  Allocation Between Business and Personal Use  Credit Reduces

Article Highlights: Donor-Advised Fund  Itemized or Standard Deductions  Sponsoring Organizations  Tax Benefits  Bunching Strategy  High Income Years  Donating Appreciated Assets If you would like to

Article Highlights: Employees Self-Employed Individuals Individuals with Sources of Income Without Withholding Quarterly Payments Underpayment Penalty Safe Harbor Payments June 15th falls on the weekend

Article Highlights: Household Employee Definition Employee Control Factors Self-employed or Employee Withholding Requirements Reporting Requirements Taxpayers often will hire an individual or firm to provide

Article Highlights: Limit on Tax Allowed as an Itemized Deduction  States’ Attempted Workarounds  Supreme Court Ruling  Final Regulations  Notice 2019-12 The Treasury Department and the

Article Highlights: Procrastination Can Lead to Unneeded Taxes & Penalties  Events That Create Tax Problems & Opportunities  Mid-Year Tax Checkup  If you are inclined to

Article Highlights: Solar Credit  Plug-In Electric Vehicle Credit  Penalty for Not Having Health Insurance  Medical Deduction Restrictions  New Alimony Rules  Standard Deduction Increase  Increased Retirement

Article Summary: Filing Options  Married Filing Jointly  Unpleasant Consequences  Pleasant Consequences  Married Filing Separately  Notifying SSA, IRS, employers  Other Issues to Consider  A taxpayer’s filing

Article Highlights: Adjusted Basis  Passive Loss Carryovers  Installment Sale  Tax-Deferred Exchange  Tax on Net Investment Income  Qualified Opportunity Fund  Home Sale Exclusion  If you are