Tax Articles

In the continually changing world of taxes, we’re here to keep you informed.

 

Choosing the right tax preparer is serious business. While picking the wrong tax professional may not impact your physical health, it could have a severe impact on the health of your finances. So choose wisely! 
Not all taxpayers are required to file a federal income tax return. Determining if you have a filing requirement, like almost everything else tax-related, starts with evaluating your gross income for the year, your filing status, age, etc. 
To date, the IRS has reported that the average tax refund is up 1.3% compared to 2018.  However, not everybody is getting a refund. If you are facing an unexpected tax bill, here are some things to keep in mind.
IRS Commissioner Chuck Rettig made it clear that the agency would be processing returns and providing refunds as scheduled, despite the government shutdown.
When sitting down to prepare taxes, whether for ourselves or a client, password security may be the last thing on our minds. But realistically, it should be one of the first.
Taking these few steps today will save you time and hassle come time to file your 2018 tax returns in 2019. 
For the most part, the TCJA eliminated the deduction for any expenses considered to be entertainment, amusement or recreation. However, the deductibility of business meals remains.  
When it comes to taxes, there is no shortage of situations to prepare for. One of the most overlooked areas relates to natural disasters.
Taxpayers who filed for an extension to file their 2017 tax returns should keep in mind that the extension deadline is October 15th, 2018.