Disaster Relief Several recent laws affect disaster relief for taxpayers. What does that mean for you? The Tax Cuts and Jobs Act (TCJA) removes the deductions for
Category: Tax Deductions
State and Local Income Taxes (SALT) and Charitable Contributions
IR-2018-172 Treasury, IRS issue proposed regulations on charitable contributions and state and local tax credits WASHINGTON — The U.S. Department of the Treasury and the
Qualifying Relative and Exemption Amount
IRS issues notice with guidance Notice 2018-70 clarifies the definition of who is a “qualifying relative” for purposes of the new $500 credit for dependents
2018 Taxes Affected by TCJA 2017 Tax Reform
Tax Reform 101 The Tax Cuts and Jobs Act of 2017 officially starts affecting tax returns Jan 1, 2018, so your taxes next January will
August 2018 Tax Newsletter
Tax Notes The Tax Cuts and Jobs Act raised the Child Tax Credit from $1,000 to $2,000. Of this, up to $1,400 can be a
July 2018 Tax Newsletter
Mid-Year Tax Checkup It’s hard to believe that we are halfway through the year already. July is a good time to make sure that you
IRS Encourages Taxpayers to Get a PayCheck Checkup
Following major tax reform in December 2017, the Internal Revenue Service (IRS) is asking employers to remind workers that a “paycheck checkup” might be necessary
Updated 2018 IRS Withholding Calculator for W-4
The Internal Revenue Service (IRS) has finally released an updated Withholding Calculator which reflects changes under the new tax law. You can find the new withholding
Interest on Home Equity Loans Still Deductible Under New Law
The Internal Revenue Service advised taxpayers that in many cases they can continue to deduct interest paid on home equity loans. Despite newly-enacted restrictions on
Three Popular Tax Benefits Retroactively Renewed for 2017; IRS Ready to Accept Returns
The IRS announced on February 22 that its processing systems have been reprogrammed to handle the three benefits most likely to be claimed on returns filed early in the