The IRS filing deadlines are as follows for 2018 returns: Continue reading “2019 Federal Income Tax Due Dates”
TAX NEWS UPDATES
2019 EXCISE TAX RETURN DUE DATES
Read the information below to find out when your tax return is due. If the due date falls on a weekend or legal holiday, the due date is extended to the next business day.
Protected: COMPLETE TAX REFORM GUIDE FOR SMALL BUSINESSES & INDIVIDUALS
Tax Reform Changes to Businesses
This article will cover The Tax Cuts and Jobs Act changes to businesses from 2018-2025. Continue reading “Tax Reform Changes to Businesses”
Business Expenses vs. Assets | Is there a difference according to the IRS? and Tax Reform changes.
Business owners often think that if they pay money for anything that is business related it’s a business expense; while this is often true, sometimes it’s not. If the expenditure falls under a different IRS definition it could cause different deductability rules and limits to be applicable. Therefore, putting the business owner at risk of an audit do to over stating business expenses. This may result in unnecessary penalties and interest along with an increase in tax liability for the year in question.
Prevent that from happening to your business by understanding the difference of these expenditures. Continue reading “Business Expenses vs. Assets | Is there a difference according to the IRS? and Tax Reform changes.”
Tax Reform Changes to Individual Tax Payers Tax Returns through 2025
Like mentioned before there were both benefits and negative impacts brought by tax reform. Most of the negative impact affects the itemized deductions. I have already covered those in another webinar. I will link that video bellow. Continue reading “Tax Reform Changes to Individual Tax Payers Tax Returns through 2025”
Selling your Home? Plan ahead, and Make it a Tax FREE transaction.
Generally, when a home owner sells their main residence IRS allows an exclusion of gain from the sale. To qualify for the maximum exclusion of gain ($250,000 or $500,000 if married filing jointly) you must meet the Eligibility Test. Continue reading “Selling your Home? Plan ahead, and Make it a Tax FREE transaction.”
Services subject to sales tax | DOR-WA
There is a misconception that all services are not subject to sales tax. This article clarifies that some services are subject to retail sales tax. Following is a listing of services that are subject to sales tax when provided to consumers. Continue reading “Services subject to sales tax | DOR-WA”
Federal, State and Local taxes for small startups?
So, you have started a new businesses venture, and wondering what taxes you need to file, to whom and what’s the difference. The U.S. Constitution authorizes U.S government(s) to collect various types of taxes from you. Each form of taxation is governed by separate and distinct bodies of law, and vary depending on where your business is register, under what entity type, what type of goods and services the business provides, and where the business provides these goods or services to their customers. Continue reading “Federal, State and Local taxes for small startups?”
New 2018 Postcard-Size 1040 DRAFT Tax Return Released
As promised Filing taxes on a post card from now on, or are we? IRS has released a 2018 DRAFT 1040 Tax return that would fit on a post card. The new smaller size 1040, is intended to replace the old 1040, 1040A and 1040EZ. Continue reading “New 2018 Postcard-Size 1040 DRAFT Tax Return Released”