All posts by Editor

Do a “Paycheck Checkup” now

For people involved in the sharing economy: Do a ‘Paycheck Checkup’ now, avoid a surprise year-end tax bill The Internal Revenue Service urges anyone working in the sharing economy to perform a Paycheck Checkup now to avoid an unexpected tax bill when they file their return next year. Many people working in the sharing…

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IRS Tax Reform Help

New IRS publication helps taxpayers Get Ready for tax reform Tax Reform Tax Tip 2018-171 The IRS has issued a publication to help taxpayers learn about tax reform and how it affects their taxes. Taxpayers can access Publication 5307, Tax Reform Basics for Individuals and Families, on IRS.gov/getready. While last year’s Tax Cuts and Jobs Act includes…

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Accounting Methods for Small Businesses

Here’s how tax reform changed accounting methods for small businesses Tax Reform Tax Tip 2018-172 The Tax Cuts and Jobs Acts – better known simply as tax reform – allows more small business taxpayers to use the cash method of accounting. Tax reform now defines a small business taxpayer as a taxpayer that has average…

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Apply for 2019 Health Coverage

REMINDER: December 15 is the deadline to sign up for coverage starting January 1. Visit HealthCare.gov to create an account, review your options and enroll in coverage. You can enroll in or change 2019 Marketplace health insurance right now. The 2019 Open Enrollment Period runs from Thursday, November 1, 2018, to Saturday, December 15, 2018….

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IRS Extends Deadlines for Some Affected by Hurricanes

IRS extends Oct. 15 and other deadlines IRS extends Oct. 15 and other deadlines for more counties hit by Hurricanes Michael, Florence; Additional areas in Florida, Georgia, North Carolina, South Carolina and Virginia covered IR-2018-202, October 15, 2018 — After additional disaster declarations by FEMA, the IRS has added more counties that are eligible…

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Tax Reform Tax Tips for Businesses

IRS Tax Reform Tax Tip 2018-158 Small business owners can visit IRS.gov for a wide range of resources that will help them better understand tax reform. Last year’s Tax Cuts and Jobs Act includes tax law changes that may affect small businesses’ bottom line. Here are some resources available to help small business owners:…

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For Employees with Other Sources of Income

Employees with other sources of income should do a Paycheck Checkup IRS Tax Reform Tax Tip 2018-141 The IRS urges everyone who works as an employee and who also has income from other sources to perform a Paycheck Checkup now. For example, certain individuals often need to pay estimated or additional tax. This includes taxpayers…

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Tax Cuts and Jobs Act

The Section 199A Deduction and QBI As we have been reporting, The Tax Cuts and Jobs Act (TCJA) continues to make headlines. Although passed in 2017, the IRS has only recently begun to release guidance on some of the law’s key provisions. One of the most hyped provisions of the new law is the Sec….

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The Tax Cuts and Jobs Act

The Section 199A Deduction and QBI As we have been reporting, The Tax Cuts and Jobs Act (TCJA) continues to make headlines. Although passed in 2017, the IRS has only recently begun to release guidance on some of the law’s key provisions. IRS issues proposed regulations on new 20 percent deduction for passthrough businesses The…

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Tax Cuts and Jobs Act

As we have been reporting, The Tax Cuts and Jobs Act (TCJA) continues to make headlines. Although passed in 2017, the IRS has only recently begun to release guidance on some of the law’s key provisions. IRS issues guidance on small business accounting method changes under Tax Cuts and Jobs Act The IRS has issued…

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