As of today, Congress is still negotiating the COVID-19 Stimulus payment checks. Once settled they will work with the IRS to get those checks out to us. Yes… I said Congress is working with IRS; SO if you have not filed prior year taxes, you may have an issue on your hands. Here’s a statement […]
No More Deduction for Job Expenses, Including Home Office
Back in the day folks could use certain out-of-pocket employment expenses as a tax write-off; but as 2018 things have changed. Now, remember… I’m talking about potential w2 employment expenses, NOT self-employment expenses. Here are some examples of job expenses that were deductible for tax years 2017 and before, but are now not deductible for […]
Do You Make Charitable Contributions From Your Business???
So you enjoy giving money to charitable organizations, do you??? Yes! I knew you did. You love to give to great causes and so do I. So give and don’t stop. In addition to the good feeling of giving, it’s also kinda nice knowing you can write those donation off on your taxes. Right??? Well.. […]
The 2018 Tax Season Has Begun!
Hello Clients and Friends The 2018 Tax Season officially began January 29th. I will officially begin working with clients on Thursday, February 1st, so you may start sending your documents over at any time. With all of the recent tax changes, your 2017 Client Tax Questionnaire is not yet ready. I will send it to you in the […]
2018 Tax Reform on Business Meals & Entertainment – Mostly gone except…
Business meals and entertainment suffered a blow in the new 2018 tax reform bill… BUT if you’re serving meals or refreshments to prospects as part of a sales presentation that is open to the general public (meaning not just to your family and friends), the expense then qualifies as a “presentation” aka “promotional” expense, and […]
Worried about the 2018 Tax Changes?
So…. When I first heard about the tax bill changes, I admit, I became a little concerned. But the longer I thought about it, the more comfy I became. I’m neither Democratic nor Republican, so that affords me the option to NOT automatically take a side simply based on what the general population believes to […]