How High-Income Professionals Can Benefit from the Pass-through Deduction
If you are a high-income professional who is excluded from the new pass-through deduction because you are in a specified service trade or business (SSTB), you m
Disaster Casualty Losses
A disaster loss is actually a casualty loss that occurs in a geographic area that the President of the United States declares eligible for Federal disaster assi
SALT Deduction – Battle Lines Have Been Set and Swords Have Been Drawn
Tax reform has limited the federal itemized deduction for state income and local government taxes (including property taxes), collectively referred to as the SA
Tax Reform 2.0 Is in the Works
The dust has not yet settled from the Tax Cuts and Jobs Act (TCJA), passed into law in December 2017, and the House Ways and Means Committee is already consider
Do You Need to Renew Your ITIN?
The IRS has announced that more than 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2018. An ITIN is a nine-digit
Tax Reform Eases the Alternative Minimum Tax – But It’s Still There
Although Congress has been promising to repeal the alternative minimum tax (AMT), they failed to do that when they passed tax reform in 2017. Instead, they less
What Are The Penalties For Not Filing Your Tax Return?
Even if you’re unable to pay your taxes, you need to file a return. Not doing so will eventually lead to a domino effect of negative consequences. Learn m
Kiddie Tax No Longer Based on Parents’ Tax Rate
Some years back, it was not uncommon for parents to put their investments in their dependent children’s names to take advantage of their children’s
IRA Missteps to Avoid
If you have an IRA account or are considering one, there are a number of potential missteps you will want to avoid. Some of them can lead to unwanted taxes and
Not Using QuickBooks Online? What You’re Missing Out On
If you dread every minute of the time you spend on accounting, you should know how QuickBooks Online can change your outlook.