Tag Archives: Tax Reform

IRS Tax Tips

It’s “Tax Season” and the IRS has prepared some tips and tools to help you file your taxes. Even if you use a paid tax preparer or tax software, you will find some of this information helpful! Ten things for taxpayers to think about when choosing a tax preparer Where’s My Refund? tool lets taxpayers…

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The NEW IRS 1040

Everything You Need to Know About the NEW IRS Form 1040 Tax Form Form 1040 is used by U.S. taxpayers to file an annual income tax return. As part of a larger effort to help taxpayers, the Internal Revenue Service has streamlined the Form 1040 into a shorter, simpler form for the 2019 tax season….

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New IRS Form 1040

Form 1040 is used by U.S. taxpayers to file an annual income tax return. For Tax Year 2018, you will no longer use Form 1040A or Form 1040EZ, but instead will use the redesigned (“post-card sized”) Form 1040. Many people will only need to file Form 1040 and no schedules. However, if your return is…

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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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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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