USE TAX CALCULATOR TO MAKE ACCURATE RETURN

Use tax calculator to make accurate return. With the Tax Season for the majority of Taxpayers now behind us, the IRS is memo IR-2022-81, April 13, 2022, is urging Taxpayers to use the Withholding Estimator to ensure the accuracy of tax returns. The Withholding Calculator is a Free toll you can find on the IRS […]

CAUTION IN FILING THE NEW 1099-K

Caution in filing the new 1099-K. The reporting threshold required by the IRS has been changed for those who have to file form 1099-K, which is used for third party settlement entities, which must issue a 1099-K. The National Taxpayer Advocate gave a warning to those who must file this form, while the (NTUF) National […]

VIRUS BILL HAS TAX CREDITS FOR EMPLOYERS

Virus bill has tax credits for employers. The Coronavirus relief bill signed by President Trump late Wednesday, among its many provisions, several tax credits for employers who provide paid sick leave or family or medical leave for their employees who miss work for various coronavirus related reasons. The Families First Coronavirus Response Act, H.R. 6201, […]

CLAIMING A CASUALTY LOSS AFTER HURRICANE

Claiming a casualty loss after hurricane. Hurricane Dorian was one of the most powerful hurricane’s to ever make landfall in the United States. A category 5 storm has been called the strongest storm with maximum sustained winds of over 185 miles per hour, according to the National Hurricane Center. Although gradual weakening i, Dorian unleashed […]

IMPORTANT 2019 ROTH IRS RULES

Important 2019 roth irs rules. A Roth IRA is a form of tax benefited retirement account. With Roth IRAs your contributions are not tax deductible, but your eventual withdrawals will be. This makes Roth IRSs a great way to ensure your financial security well into retirement. However, there are many rules about who can contribute […]

MAJOR COSTLY TAX MISTAKE

Major costly tax mistake. A major costly tax mistake has raised its ugly head in the Paul Manafort case. A costly tax planning lesson is in store in light of the high profile case. This tax mistake could cost a taxpayer up to $100,000, so take note. If you are hit with that tax, you […]