Individuals

Tax Tables

The IRS has released some updated rates and information for 2019, including tax rates adjusted for inflation. If you like that sort of thing, you can read all about it here. For a brief synopsis of the new tax tables for individual, we have them here and below. Yes, that is a brief synopsis. Have […]

Mileage!

QUESTION: Can you take mileage as a tax deduction? ANSWER: Yes, but… If you use your vehicle to travel around for work, you are able to take a flat rate for each mile you put on your car as a tax deduction. However, there are certain considerations to be sure you are aware of first. […]

Scammers and Scams

Like it or not, all of us have some kind of sensitive information floating out there on the internet, especially if we file taxes. However, most (if not all) of this information is locked tightly away behind excellent security and encryption. Most identity thieves are aware of this, and rather than attempting to force their way […]

Checkup on Your Paycheck

With half the year gone, it’s time for a paycheck checkup so you’re not unpleasantly surprised at tax time! Remember that last year, due to sweeping tax law changes, many taxpayers received a much smaller refund or owed additional tax that they were not expecting. Persons or families with multiple sources of income tend to […]

Death of a Taxpayer

The death of a love one is a difficult time of grief and change. In addition, settling affairs can be daunting and confusing, and this is no different when it comes to tax considerations. When a taxpayer dies, certain responsibilities fall onto the personal representative (PR). Under state law, a PR is appointed by a […]

IRS Open for Tax Season

Despite the government shutdown, the IRS will be processing tax returns and refunds. However, since the agency is operating on a limited staff, don’t expect the same processing timeline as usual. On January 7th, the IRS issued the following: “Despite the government shutdown, the Internal Revenue Service has confirmed that it will process tax returns […]

Last Minute Tax Decisions

We are rapidly approaching the end of the year and the time to save on taxes is also rapidly decreasing. So what are some things you can do in this last week before the end of the year to help save you some unnecessary tax burden. Before anything else, take a look at your finances: […]

Tax Changes for 2018

With the new tax laws going into effect this year, there are several major changes that you should be aware of when planning your tax strategy. While we won’t get into the new tax rates and brackets here, just know that they have decreased across the board, which should lead to lower taxes for most […]

New Social Security Scam

“The Acting Inspector General of Social Security, Gale Stallworth Stone, is warning citizens about an ongoing caller-ID “spoofing” scheme misusing the Social Security Administration’s (SSA) national customer service phone number. SSA has received numerous reports of questionable phone calls displaying SSA’s 1-800 number on a caller-ID screen. This is a scam; citizens should not engage […]

Employee Expense Reimbursements

With the new Tax Cuts and Jobs Act, several things have changed in the tax planning world. One of the bigger changes affecting many of our clients is the elimination of the employee business expenses deduction, along with all other deductions subject to 2% of AGI. The reasoning behind removing the deduction seems to be that […]