NEWS & UPDATES

December 16, 2018

Taxpayers probably aren't too upset over a new report showing that the Internal Revenue Service is in bad shape. As reported by ProPublica after a lengthy investigation, years of budget cuts have left the IRS  starved for staff and bleeding out experts who are capable of handling the most complex filings, like those submitted by corporations and the ultra...

December 9, 2018

How Americans feel about the Trump administration's tax overhaul continue to be mixed. In a recent poll, nearly half (46%) of Americans approve of the changes that rolled out with the 2017 Tax Cuts and Jobs Act, which isn't surprising considering only 64% said they haven't seen an increase in their take-home pay.

But in order to have seen an uptick in your...

July 26, 2018

Individual tax filers who were accustomed to itemizing their deductions may be in for a surprise when they file their 2018 federal income taxes. Although the Tax Cuts and Jobs Act of 2017 (TCJA) is projected to reduce many families' overall tax liability, it is also likely to reduce the number of individual taxpayers who itemize their deductions.

Higher S...

February 24, 2018

Today is World Bartender Day! Bartenders like many others in the service industry survive on tips. Tips are considered part of their pay so you guessed it they're taxable.  If you are a bartender, server or employer and have employees that receive tips, read on to learn the skinny on tips and taxes:

Tips your employees receive from customers are generally...

February 12, 2018

Today is National Clean out your Computer Day. It falls on the second Monday in February every year. 

Originally sponsored by the Institute for Business Technology in the year 2000, it was started to remind you to take a look at your files and programs on your computer and organize and delete old files that could be clogging memory and slowing down your co...

February 7, 2018

The Tax Cuts and Jobs Act made many changes to the individual tax law and this includes the AMT (the alternative minimum tax).

What is the Alternative Minimum Tax?

The AMT is a different way to calculate federal income tax in the United States. It was implemented to ensure that high-income households paid their fair share of taxes, regardless of how many de...

December 6, 2017

Last-minute glitches and furious horse trading added real drama to the Senate’s push to approve its version of a major overhaul of the nation’s tax rules in the early hours of December 2. Now, things really get interesting as House and Senate Republicans work to iron out the differences in their respective bills.
 

Here's a look at some of the issues that...

November 28, 2017

November 28, 2017 is #GivingTuesday. If you are looking to maximize your tax savings before the end of the year consider charitable giving. Giving money or goods to a tax-exempt charity before Dec. 31 can usually be deducted on that year's federal income tax return.

Consider the following before donating:

Only donations to Eligible Organizations are Tax-Ded...

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