Article Highlights: W-4 UpdatesW-9 CollectionEstimated Tax PaymentsCharitable ContributionsRequired Minimum DistributionsGiftingRetirement-Plan ContributionsBeneficiariesReasonable CompensationBusiness-Vehicle MileageCollege-Tuition Plans Individuals and small businesses should consider various ways of starting off on the right foot for the 2019 tax year. W-4 Updates … [Read more...] about Start Off on the Right Foot for the 2019 Tax Year
The TaxFiling Deadline Is Around the Corner
Article Highlights: ExtensionsBalance-Due PaymentsContributions to Roth or Traditional IRAsEstimated Tax Payments for the First Quarter of 2019Individual Refund Claims for the 2015Tax Year As a reminder to those who have not yet filed their 2018 tax returns, April 15, is the due date to either file a return (and pay the taxes owed) or file for an … [Read more...] about The TaxFiling Deadline Is Around the Corner
March 2019 Individual Due Dates
March 11 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than March 11. Your employer is required to withhold FICA taxes and income tax withholding for these tips from your regular wages. If your regular wages are … [Read more...] about March 2019 Individual Due Dates
A Government Shutdown Isn’t Going to Save You From an IRS Audit
Yes, it’s true that we’re just coming out of the longest government shutdown in the history of the United States. It will take many government agencies — including the Internal Revenue Service — a significant period of time to get back up to speed. But if you think that all this means that the chances of your getting audited are lower than ever, you’re going to want to think … [Read more...] about A Government Shutdown Isn’t Going to Save You From an IRS Audit
Tax Reform Has Substantially Altered the Tax Benefits of Home Ownership
Article Highlights: Pre-Tax Reform Home Mortgage Interest DeductionHome Acquisition Debt Home Equity DebtTax Reform Mortgage Interest Deduction Changes Home Acquisition Debt Home Equity DebtTracing Equity DebtRefinancingProperty Taxes As part of the recent tax reform, the Tax Cuts and Jobs Act of 2017, the deduction for home mortgage interest and property taxes has … [Read more...] about Tax Reform Has Substantially Altered the Tax Benefits of Home Ownership