Swimming Pool Deduction
A home elevator, tuition for a special needs school, fees for assisted living AND a swimming pool. All of this can be deducted on your...
NEW Tax Credit
New tax credit for 2022 tax filing from the IRS
Inflation ? IRS Releases New Standard Deductions and Tax Brackets
The standard deduction rises to $25,100 for married couples filing jointly in their 2022 returns. That’s a $300 increase. It rises to...
IRS warns against COVID-19 fraud; other financial schemes
In a news release last week, the IRS cautioned that criminals are continuing to use the COVID-19 Economic Impact Payments as cover for...
New Employer Tax Credits
The IRS recently issued Publication 5419, New Employer Tax Credits (PDF)to help employers understand that tax credits available to them...
COVID-19
There have been several new announcements made by both the Internal Revenue Service (IRS) and the Treasury Department in recent days in...
2019 Tax Filing Season Opens January 27
2019 Tax Filing Season Opens January 27
§199A QBI Deduction on IRS-Prepared Substitute Return Not Allowed
§199A QBI Deduction on IRS-Prepared Substitute Return Not Allowed
Depreciation limits on luxury automobiles
Tax Reform changes depreciation limits on luxury automobiles The Tax Cuts and Jobs Act changed depreciation limits for passenger vehicles...
Depreciation, depreciation and surprise !
The Tax Cuts and Jobs Act was signed into law on Dec. 22, 2017, and it provides many incentives for small business owners, including...
