Updated Withholding Calculator Reflects Changes in New Tax Law
To help taxpayers, the IRS updated the special Withholding Calculator tool on IRS.gov to reflect changes in the Tax Cuts and Jobs Act...
Tax Due Dates
Form 2018 Filing Due Date (Tax Year 2017) Form W-2 (electronic or mail) January 31st Form 1065 –...
IRS PHONE SCAM
Do not give your credit card or any personal information over the phone. The IRS will never call you !
Tax Reform Bill 2017
Changes for Individuals and Families Effective for Tax Year 2018 Lower tax rates – Lowers tax rates and sets the rates at 10%, 12%, 22%,...
Employee Business Expenses
Taxpayers who pay work-related expenses out of their own pocket may be able to deduct them. Generally, employee business expenses are...
1099-Misc need to be issued by January 31
Who Must File Form 1099-MISC ?, Each person to whom you have paid during the year: At least $600 in: – Rents, – Services performed by...
5 Deductions for Self-Employed Workers
1. Good accounting software- such as QuickBooks,® . Do not forget to include business-related travel expenses, which are 100 % deductible,...
Household Employees
If you have a household employee, you may need to withhold and pay Social Security and Medicare taxes (FICA), pay federal unemployment...
Capital Gains and Losses
Capital Assets - Most property an individual owns and uses for personal or investment purposes is a capital asset. For example,a house,...
Foreign Bank and Financial Accounts
If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account,...
