WHO MUST PAY ESTIMATED TAXES IRS

Who must pay estimated taxes IRS. The IRS put out bulletin IR-2022-101, in an effort to help the public better understand who needs to pay estimated taxes, how to pay them, and when to pay them. Additional information beyond what is here, is available at the IRS website IRS.GOV Who must pay estimated tax. Individuals, […]

INFORMATION FOR FILING SMALL BUSINESS TAXES

Information for filing small business taxes. We have worked with numerous small business owners who started a company, became successful, but forgot a few things at the beginning of the adventure, that eventually cost them dearly with the IRS and the local taxing authorities. The first thing that some business owners forget to do, is […]

TRADE WAR MAY CAUSE RECESSION

Trade war may cause recession. If a recession is coming, what should we do ? Not what President Trump and his economists are thinking about. While there is no certainty that a recession is in the offing, a number of Wall Street economists see warning signs–especially an inverted yield curve for bonds, which means that […]

DO YOU HAVE TO PAY TAX PENALTY ?

Do you have to pay tax penalty ? What’s the harm in filing your taxes late ? It depends on whether you owe Uncle Sam or Uncle Sam owes you. If the IRS owes you a refund you face no repercussions aside from losing the opportunity to invest or spend that money while it’s still […]

TAX CUTS AND JOBS ACT ADDITIONS

Tax cuts and jobs act additions. Many aspects of the Tax Cuts and Jobs Act have been changed, or modified, prior to the actual implementation of the final bill, that what was discussed in the Presidential Campaign’s, then after the election of President Trump, varied from the final bill. Here are a few changes that […]

MESSY TAX SEASON DUE TO TAX LAW CHANGE

Messy tax season due to tax law change. The Tax Cuts and Jobs Act not only lowered individual income tax rates, but it increased the standard deduction and increased the child tax credit, while capping state and local tax deductions and eliminating personal exemptions. Overall, the new tax changes, made it very difficult for taxpayers […]

IRS EXTENDS FLORENCE VICTIMS DEADLINES

IRS extends florence victims deadlines. The IRS issued announcement IR-2018-187, saying it is extending tax filing and payment deadlines for taxpayers and businesses in the following north Carolina counties that were hardest hit by Hurricane Florence and that have been designated as qualifying for individual assistance by the Federal Emergency Management Agency: Beaufort, Brunwick, Carteret, […]

AMERICAN EXPATRIATES TAXES

   American expatriates taxes. We sometimes get a call regarding American Expatriates Taxes, whether the person is overseas, or visiting back here in the United States. The common theme among all the expats is confusion about what they are required to do, and then frustration once they learn the rules of what is required by […]

TRUMPCARE TAX CUTS

   Trumpcare tax cuts. The American Health Care Act, AKA, Trumpcare, affects much more than just health insurance. Trumpcare would repeal many provisions of Obamacare that relate to insurance coverage, but it would also substantially change the amount of revenue the federal government collects. In other words, it’s not just health insurance reform, it’s tax […]