If you’ve been impacted by a natural disaster, you may be eligible for certain types of tax relief from the IRS. The exact types of relief provided will vary depending on your disaster area. However, this article will give you a basic understanding of what...
While most of the Tax Cuts and Job Act’s new tax laws went into effect in 2018, there was one major one that wasn’t yet applied: important changes to how alimony and other support payments are handled on your tax return. These laws went into...
Yesterday, the Labor Department made public a new final rule that will make it easier for small businesses to offer 401(k) plans to their employees. This rule will go into effect on September 30th, and will allow multiple small businesses to band together to offer...
Filing taxes for the wages you earned is relatively straightforward. However, if you’re an independent contractor or own your own business, things can get a bit trickier. If you’re feeling a bit daunted by the prospect of filing self-employment taxes, here are a few things...
One of the major tax law changes brought on by the Tax Cuts and Jobs Act was nearly doubling the standard deduction to $12,000 for individuals and $24,000 for married couples filing jointly. The law also placed a cap on many common deductions that taxpayers...
If you’re starting a new business, one of the first things you must do is to select a business structure. For those making their first foray into entrepreneurship, it’s important that you take the time to consider all of the ways in which the various...
Most people don’t spend much time thinking about their taxes until January hits. But planning ahead and preparing well in advance of the tax year’s end can have enormous benefits for you. Not only will you likely find filing to be a lot simpler and...
Being selected for an IRS audit is a thought terrifying enough to make some people break out into a cold sweat. But it may not be as bad as you believe. Of course, nobody wants to be audited, but in most cases, the process is...
There are a lot of reasons for not filing your return on time. Whether you simply didn’t have all your documents ready, were worried about paying what you owed, or simply let the deadline pass you by, it’s important that you get your 2018 return...
So you filed your return a few months ago, and you probably haven’t given it much thought since then. But did you know that having your tax return reviewed by a professional CPA can offer you several benefits? Whether you filed your return yourself or...
