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IRS Withholding Calculator

Mar 5, 2018 | Larry | 2017 Tax Cuts & Jobs Act, IRS, W-4, Withholding

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

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Identity Theft

May 19, 2015 | Larry | credit report, criminal report, debt collectors, fraud, identity theft, IRS, Taxes

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

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Simplified Home Office Deduction

Jul 6, 2014 | Larry | business expenses, deductions, depreciation, IRS, office in the home, simplified home office deduction

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

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A Brief Primer on the Home Office Deduction

May 27, 2014 | Larry | business expenses, deductions, depreciation, IRS, office in the home, Taxes

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

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May 9, 2014 | Larry | Amended tax return, depreciation, IRS

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

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Ten Facts about Amended Tax Returns-IRS Tax Tip

May 2, 2014 | Larry | Amended tax return, business expenses, credits, deductions, interest, IRS, State taxing authority, Taxes

  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

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10 Tips for Taxpayers Who Owe

Apr 24, 2014 | Larry | IRS, Taxes

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

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