Archive for February 2018
A Comprehensive Look at the New QBI Deduction
by Peter Desmond Hopkins, CPA, MS Perhaps the most significant change enacted last December as part of what is commonly called the Tax Cuts and Jobs Act (TCJA) is the…
Read MoreOwing Back Taxes Could Affect Passport Renewal
Last month, individuals with “seriously delinquent tax debts” became subject to a new set of provisions courtesy of the Fixing America’s Surface Transportation (FAST) Act, signed into law in December…
Read MoreDonating a Car to Charity
If you donated a car to a qualified charitable organization in 2017, and intend to claim a deduction, you should be aware of the special rules that apply to vehicle…
Read MoreTips for a Stress-Free Tax Season
Earlier is better when it comes to working on your taxes, but many people find preparing their tax return to be stressful and frustrating. Fortunately, it doesn’t have to be.…
Read MoreFive Tax Breaks That Survived Tax Reform
Recent tax reform legislation affected many provisions in the tax code. Many were modified, either permanently or temporarily, while some were repealed entirely. Here are five that survived. Mortgage Interest…
Read MoreTax Filing Season Begins; Tax Returns Due April 17
Nearly 155 million individual tax returns are expected to be filed in 2018, according to the IRS, which began accepting electronic and paper tax returns on Monday, January 29, 2018.…
Read MoreIRS Warns of New Filing Season Scam
The IRS is seeing an emergence of a new scam this filing season. This new scam involves the filing of fraudulent returns using taxpayers’ real information such as income, dependents,…
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