Expanded Sec. 152 for Dependents
The Tax Cuts and Jobs Act broadened the Child Tax Credit and introduced some big changes to more qualifying taxpayers. Child Tax Credit If you have children or dependents under...
The Impact of Tax Reform on Alimony
The Tax Cuts and Jobs Act has turned the tax code upside down on alimony, especially in terms of tax deductions. As of January 1, 2019, the tax code on...
IRS Releases 2018 Pension Plan Contribution Limits
A new year brings new changes. The Internal Revenue Service recently announced updated pension plan contribution limitations for the 2018 tax year. The Highlights The new limit for elective-deferral contributions...
A New Twist on an Old Scam
As many are aware, tax scams are on the uptick. What you may not know is there is a new twist on an old scam. The IRS issued an alert...
Construction Companies Go Green
The construction industry has discovered that greening its energy sources with renewable energy initiatives is good not only for the global environment, but also for the bottom line. Many construction...
New Deadline and Increased Penalties for Forms 1099 and W-2
The IRS is getting stricter on filing deadlines for information returns and have increased penalties for businesses that fail to file on time. Forms such as 1099 and W-2 will...
IRS Announces Various Tax Benefit Increases for 2016
For tax year 2016, the IRS recently announced many annual inflation adjustments. IRS Revenue Procedure 2015-53 provides details about these amounts. Because inflation is low, many of the amounts for...
Expanded Sec. 152 for Dependents
The Tax Cuts and Jobs Act broadened the Child Tax Credit and introduced some big changes to more qualifying taxpayers. Child Tax Credit If you have children or dependents under...
The Impact of Tax Reform on Alimony
The Tax Cuts and Jobs Act has turned the tax code upside down on alimony, especially in terms of tax deductions. As of January 1, 2019, the tax code on...
IRS Releases 2018 Pension Plan Contribution Limits
A new year brings new changes. The Internal Revenue Service recently announced updated pension plan contribution limitations for the 2018 tax year. The Highlights The new limit for elective-deferral contributions...
A New Twist on an Old Scam
As many are aware, tax scams are on the uptick. What you may not know is there is a new twist on an old scam. The IRS issued an alert...
Construction Companies Go Green
The construction industry has discovered that greening its energy sources with renewable energy initiatives is good not only for the global environment, but also for the bottom line. Many construction...
New Deadline and Increased Penalties for Forms 1099 and W-2
The IRS is getting stricter on filing deadlines for information returns and have increased penalties for businesses that fail to file on time. Forms such as 1099 and W-2 will...
IRS Announces Various Tax Benefit Increases for 2016
For tax year 2016, the IRS recently announced many annual inflation adjustments. IRS Revenue Procedure 2015-53 provides details about these amounts. Because inflation is low, many of the amounts for...