You may qualify for the Advance Child Tax Credit payments that congress approved based on your 2019 or 2020 tax return data. The IRS has sent out letters to those that have been identified as possible recipients of these new
Category: Tax News
Smaller Tax Refund This Year?
Refund Data The Tax Cuts and Jobs Act (TCJA), passed in December 2017, enacted a number of broad changes: It introduced new tax brackets, included an expanded child care credit and changed the way itemized deductions are factored in, etc. As
Good News for Taxpayers Who Under-Withheld
The Internal Revenue Service warned taxpayers to check their income tax withholding for almost all of 2018 due to how the Tax Cuts and Jobs Act (TCJA) affected tax brackets. Despite these warnings, it started to look like many taxpayers
Sharing Economy IRS Tax Center
If you use one of the many online platforms available to rent a spare bedroom, provide car rides, or to connect and provide a number of other goods or services, you’re involved in what is sometimes called the sharing economy.
Reminder: 2018 Tax Changes for Individuals
The Tax Cuts and Jobs Act of 2017 (TCJA) eliminated or modified numerous tax provisions starting in 2018. Here’s what individuals and families need to know as they get ready for tax season.
2018 Tax Highlights Video
Video includes key information about the TCJA tax reform changes that will affect you in the upcoming tax season. The highlights consist mostly of the individual tax changes. Start collecting your documents now, so you’re ready to file taxes and
December 2018 Tax Newsletter
Charitable Giving Planning In 2017, Americans donated over $410 billion to charity. As 2018 closes, you may be considering your charitable giving. You can deduct charitable gifts of cash and property, plus deduct your charitable mileage (14¢ per mile). To
November 2018 Tax Newsletter
The New (and improved?) Form 1040 The new Form 1040 has been touted as a simple way for most people to file their income taxes on a page the size of a postcard. Is that really the case? Depending on
Tax Relief for Victims of Hurricane Michael
Extended filing and payment deadlines Hurricane Michael victims in parts of Florida and elsewhere have until Feb. 28, 2019, to file certain individual and business tax returns and make certain tax payments. The tax relief postpones various tax filing and
AB 626 – Homemade Food Operations Act
Exciting news for home based food businesses with the passage of AB-626 by Governor Brown in September. The new law has now made it permissible to sell food cooked from your home effective January 1, 2019, of course there are