FAMILIES FIRST CORONAVIRUS RESPONSE ACT TWO

Families first coronavirus response act two. As our economy opens up, businesses reopening and interactions with others increase, there is relief for employees who may be impacted by the coronavirus. The following benefits are mandated by the FFCRA and fully refundable to the employer through the U.S. Treasury. The IRS has outlined procedures to help […]

A REVIEW OF 2019 TAX DEDUCTIONS

A review of 2019 tax deductions. The Tax Cuts and Jobs Act was the biggest overhaul of the U.S. Tax Code in decades, and it made some significant changes to the tax deductions that are available. Many tax deductions were kept intact, but others were modified, and some were eliminated entirely. Subsequently, legislation with the […]

GETTING READY FOR YOUR 2019 TAXES

Getting ready for your 2019 taxes. The Internal Revenue Service urged taxpayers to act now to avoid a tax time surprise and ensure that they have smooth processing of their 2019 federal tax return. The IRS urges everyone to use the tax withholding calculator to perform a paycheck or pension income checkup. This is even […]

SUPERRICH WHO WANT WEALTH TAX

Superrich who want wealth tax. When the grand vacation homes of Newport Beach were empty on a beautiful Memorial Day weekend, Molly Munger decided it was time for the U.S. to consider taxing wealth. As her family’s boat moved through the harbor a few years ago, Munger, whose father is a billionaire investor, saw that […]

TAX SEASON IS HACKER SEASON

Tax season is hacker season. As taxpayers nationwide file their 2018 returns, they should prepare to do battle with the hackers and fraudsters now coming out of hibernation to confiscate your money. Their most dangerous threat this year is the Emotet trojan. If accidentally downloaded, this malware virus hunkers down hidden inside your computer, allowing […]

KUSHNER PAID NO INCOME TAXES FOR YEARS

Kushner paid no income taxes for years. Even though his personal net worth has soared . His net worth has quintupled to almost $324 million, and his family has spent billions buying real estate. And yet, for several years running, Mr. Kushner–President Trump’s son in law, and a senior White House advisor–appears to have paid […]

TAX DEDUCTIONS

Tax Deductions. IRS publication Topic 502 has a summary list of new medical expenses that are allowed under the new tax law recently passed. These tax deductions are subject to certain limitations, so be careful to check with your tax preparer or if you are self filing, check them out prior to filing your tax […]