Category Archives: Tax Management

7 Things to Know for Tax Year 2019

Jeffrey McNeal — February 10, 2020 While we are already in the second year following the Tax Cuts and Jobs Act, there are a couple and changes to be aware of when filing taxes this year. A comprehensive list of these updates can be found on the IRS website, however, below is a list of … Continue reading 7 Things to Know for Tax Year 2019 →

Breaking Down the New Form W-4 & How to Ensure Compliance in 2020

Tax Management

Matt Jarzynski — January 16, 2020 In the first major redesign over 30 years, the IRS is kicking off the decade by rolling out a new Form W-4. The updated document reflects changes that were made to the federal tax code following the Tax Cuts and Jobs Act last year. To help employers and employees … Continue reading Breaking Down the New Form W-4 & How to Ensure Compliance in 2020 →

What Tax Reform Changed About Accelerated Depreciation Rules

Tax Management

Riley Adams — September 19, 2019 — September 19, 2019 stevepb / Pixabay Tax reform is little more than a memory and yet the effects will last for years to come. Now, taxpayers must understand the changes and plan their financial lives, whether personal or professional, accordingly. Businesses will follow suit as well. Many benefited … Continue reading What Tax Reform Changed About Accelerated Depreciation Rules →

Filed for a Tax Extension? You’re Still at Risk of Fraud

Tax Management

Donna Parent — September 18, 2019 — September 18, 2019 stevepb / Pixabay If you are one of the millions of taxpayers who have filed for a tax extension in 2019, the October 15th deadline is just around the corner. Fraudsters may have attempted to steal your identity and tax information throughout the year … Continue reading Filed for a Tax Extension? You’re Still at Risk of Fraud →

Knowing the Tax Differences Between Active and Passive Income

Tax Management

Marc Andre — September 5, 2019 Follow @vital_dollar — September 5, 2019 stevepb / Pixabay Earning a steady income is a necessity if you have plans to support yourself and often requires trading your time for money. However, not all income comes in the form of paycheck. Rather, some income comes from investments you’ve made … Continue reading Knowing the Tax Differences Between Active and Passive Income →

How a Tax Preparation Business Could Save You From the Next Recession [Infographic]

Tax Management

Brian Wallace — July 23, 2019 Follow @nowsourcing — July 23, 2019 In less than two years, the United States could face another recession. How do you plan to stay up when the economy is down? Only 27,000 jobs were created in May 2019, and the unemployment rates are expected to increase over the next … Continue reading How a Tax Preparation Business Could Save You From the Next Recession [Infographic] →

3 Tax-Deductible Benefits Your Employees Should Be Taking Advantage of in 2020

Tax Management

Jeff Threde — May 22, 2019 — May 22, 2019 As an employer, you’re undoubtedly aware that you can claim a business expense deduction for the wages and salaries that you pay your workers, but do your employees know they can claim similar tax deductions? In 2018 alone, employees claimed more than $ 1.2 trillion … Continue reading 3 Tax-Deductible Benefits Your Employees Should Be Taking Advantage of in 2020 →

Refund Denied: What to Do if You’re a Victim of Tax Fraud

Tax Management

Heidi Daitch — April 17, 2019 — April 17, 2019 Now that April 15th has come and gone, it’s still critical for you to stay vigilant and to keep a watchful eye for any suspicious activity that may signal tax fraud. Fraudsters have been busy, and may have already been working behind the scenes to … Continue reading Refund Denied: What to Do if You’re a Victim of Tax Fraud →

10 Tax Deductions That Are Easily Forgotten During Tax Season

Tax Management

Kurt Avarell — April 15, 2019 — April 15, 2019 Often, taxpayers choose the standard deduction assuming that itemized deductions and other deductions would be less beneficial. This feeling is even stronger with the new increase in the standard deduction from the Tax Cuts and Jobs Act, however taxpayers can oftentimes deduct more through other … Continue reading 10 Tax Deductions That Are Easily Forgotten During Tax Season →

Small Business Tax Deductions You Should Know About

Tax Management

Robert Gloer — March 28, 2019 Follow @IOUFinancial — March 28, 2019 2019 continues the new tax regime passed two years ago that proved so friendly to business. The corporate tax rate now tops out at 21 percent. While that’s great for reducing your tax bill, it also means that deductions are worth less than … Continue reading Small Business Tax Deductions You Should Know About →