The U.S. Department of the Treasury and the Internal Revenue Service have stated that proposed regulations will be issued addressing the deductibility of state and local tax payments for federal income tax purposes. Notice 2018-54 also informs taxpayers that federal law controls the characterization of the payments for federal income tax purposes regardless of the characterization [...]
[youtube https://www.youtube.com/watch?v=ni2szZeXONg]So here’s the scenario: you’ve landed a new job and are now making a decent salary. Conventional wisdom says it’s time to start saving for the future, and that is correct. This includes goals such as your first house, a new car, and even retirement. But in addition to these savings goals comes mandatory obligations [...]
The Internal Revenue Service encourages taxpayers who typically itemized their deductions on Schedule A of the Form 1040 to use the Withholding Calculator this year to perform a “paycheck checkup.” People who have itemized before may be affected by changes from the Tax Cuts and Jobs Act. Taxpayers who itemize should use the IRS Withholding Calculator [...]
[youtube https://www.youtube.com/watch?v=vtsf1To2Ut8]If money is something that makes you happy -- and let's face it, more money never hurts -- then the following tips will help you earn more and keep more in your pocket. Stop Being a Consumer, Start Being an Investor - Getting rid of unnecessary spending and unwanted debt is a must. The goal [...]
The following article was published by the IRS. The Internal Revenue Service reminded certain tax-exempt organizations that the Tuesday, May 15 filing deadline for Form 990-series information returns is fast approaching. Form 990-series information returns and notices are normally due on the 15th day of the fifth month after an organization’s tax-year ends. Many organizations use [...]