In response to the 2017 Tax Cuts & Jobs Act. the IRS has come out with a new online withholding calculator. Deductions, credits and exemptions have all been affected. First, a maximum $10,000 can be deducted for a combination of state income and
A recent article on the CBS website http://www.cbsnews.com/news/identity-stolen-this-federal-site-is-your-first-step/ offers advice to anyone who has had their identity stolen. It directs the reader to the Federal Trade Commission (FTC) website https
The simplified home office option took effect starting January 1, 2013. Use of this option allows the taxpayer who uses a home office for business to deduct the space without maintaining expense records. It is recommended by the IRS as a viable alter
One of the most misunderstood and neglected business deductions is the home office. Both tax professionals and clients oftentimes are reluctant to take this valuable deduction. It is unfortunate, because the home office deduction is both valuable and
Depreciation is a valuable tax deduction. It is oftentimes not taken due to taxpayer misconceptions, including the belief that the taxpayer will be heavily taxed on the depreciation when the asset is sold. Any additional tax represents a small percen
Issue Number: IRS Tax Tip 2014-51 Inside This Issue Do you have an uneasy feeling that you overpaid taxes in a previous year? If your gut feeling rings true, it is possible to file an amended tax return. You generally have
Washington, D.C. (April 15, 2014) By Roger Russell For taxpayers who owe taxes with their tax returns, the IRS has provided ten tips about how to pay: 1. Taxpayers should never send cash. 2. If taxpayers e-file, they can file and pay in a single st
