Article Highlights: W-4 Complications Working Spouse Adjusting Refund Other Income and Tax Issues As they do at the beginning of every year, employers will be requesting employees to complete the IRS Form W-4. Its purpose is to provide employers with the information they need to determine the amount of federal income taxes to withhold from […]

Entrepreneurs often shrug off the idea of obtaining an employer identification number, or EIN, believing that their small business really doesn’t need one. Though there are some cases where a solo business can get away with merely utilizing the business owner’s Social Security Number, doing so is not necessarily the best idea, even if you […]

Article Highlights:  Tax Reform Prepayments W-4 Safe Harbor Payments Penalty Waivers & Exceptions Mitigating the Penalty Taxpayers are required to pre-pay their taxes for any tax year through payroll withholding, estimated tax payments or a combination of the two. Employees and retirees generally accomplish this through withholding, and self-employed individuals and those with investment income […]

Article Highlights: 199A 20% Pass-Through Deduction Rental Safe Harbor Qualifications Books & Records 250 Hours Contemporaneous Record Triple Net Leases Vacation Home Rentals Double-Edged Sword Ever since tax reform was passed, over a year ago, taxpayers have been uncertain whether rental property will be classified as a trade or business for purposes of qualifying for […]

Article Highlights: Time to gather your information for your tax appointment New for 2018 Choosing your alternatives Tips for pulling your information together Tax time is just around the corner, and if you are like most taxpayers, you are finding yourself with the ominous chore of pulling together the records for your tax appointment. The […]