The following is a summary of important tax developments that occurred in October, November, and December of 2018 that may affect you, your family, your investments, and your livelihood. Business meals. One of the provisions of the Tax Cuts and Jobs Act (TCJA) disallows a deduction for any item with respect to an activity that is [...]
The following article was published by the IRS. The Internal Revenue Service has announced that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. The IRS is generally waiving the penalty for any taxpayer who [...]
The following article was published by the IRS. As people prepare to file their taxes, there are things to consider. They will want to determine if they need to file and the best way to do so. For tax year 2018, all individual taxpayers will file using the new Form 1040. Forms 1040A and 1040EZ are [...]
Experienced tax pros are experts at knowing which deductions to look for when you file your taxes. Deductions are simply defined as subtractions from your income that can save anywhere from hundreds to thousands on your taxes. Due to the new tax laws, everyone is going to get a much bigger standard deduction [...]
What do social media gigs, driving for companies like Uber, and renting out spare bedrooms in your house to travelers all have in common? They are all different ways of participating in what has become known as the Sharing Economy. This is also known as the Gig, On-Demand, or Access Economy. With the [...]
