Isler Northwest LLC is continuing to provide tax and accounting services during the COVID-19 pandemic, while also taking steps to protect the health and safety of our employees and our community. We are closely monitoring local, state and federal…
The Tax Cuts and Jobs Act (TCJA, often referred to as tax reform) generally became effective in 2018 and increased the federal estate and gift tax lifetime exclusion amount (LEA) from $5 million per person to $10 million per person. On top of…
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Taxpayers frequently ask what benefit is derived from a tax deduction. Unfortunately, there is no straightforward answer. The reason the benefit cannot be determined simply is because some deductions are above-the-line, others must be itemized,…
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If you are at or approaching the age of 70, you need to be aware of some changes that Congress made to the tax laws, effective starting in 2020. These changes will have direct impacts on you and the decisions you make related to your retirement…
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To encourage U.S. taxpayers to move away from gasoline-powered motor vehicles, over the years, Congress has provided various tax credits for purchasing electric or alternative fuel vehicles.
These credits generally come with an expiration…
https://www.islernw.com/wp-content/uploads/2020/03/Congress-Green-Lights-Some-Alternative-Vehicle-Credits.jpg300833IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2020-03-05 02:09:492020-03-05 02:09:49Congress Green-Lights Some Alternative Vehicle Credits
March 10 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than March 10.
Your employer…
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Some members of Congress have, for some time, expressed their displeasure with the so-called stretch IRAs that have permitted some beneficiaries, such as a young child or a grandchild, to extend the payout period from the IRAs they inherited…
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Your taxes contain an array of sensitive information, from financial data to your Social Security number or tax ID number. Because of this, there are many scams that unsavory characters attempt to perpetrate by impersonating the IRS or another…
https://www.islernw.com/wp-content/uploads/2020/02/IRS-Letters-Tax-Scam-or-Something-You-Need-to-Address.jpg300833IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2020-02-22 06:49:562020-02-22 06:49:56IRS Letters: Tax Scam or Something You Need to Address?
If you asked 10 different people how they were able to get out from under their debts as quickly as possible, you’d probably get 10 different answers.
This is because there truly is no one-size-fits-all approach to proper financial…
https://www.islernw.com/wp-content/uploads/2020/02/The-Best-Approach-to-Paying-off-Your-Debt-Quickly-Its-Unique-to-You.jpg300833IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2020-02-20 09:11:142020-02-20 09:11:14The Best Approach to Paying off Your Debt Quickly? It’s Unique to You
On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including retroactively extending certain tax provisions that expired after 2017 or were about to expire, a number…
https://www.islernw.com/wp-content/uploads/2020/02/Congress-Removes-IRA-Contribution-Age-Restriction.jpg300833IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2020-02-14 23:48:432020-02-14 23:48:43Congress Removes IRA Contribution Age Restriction
Isler NW COVID-19 Announcement
COVID-19, NewsWhere is Estate Tax Going in the Future?
Estate PlanningWhat Does a Tax Deduction Save You?
DeductionsNew Tax Rules for Retirees
RetirementCongress Green-Lights Some Alternative Vehicle Credits
Deductions, Electric VehiclesMarch 2020 Individual Due Dates
Due DatesCongress Does Away with the Stretch IRA
2020 Tax LawsIRS Letters: Tax Scam or Something You Need to Address?
ScamsThe Best Approach to Paying off Your Debt Quickly? It’s Unique to You
DebtCongress Removes IRA Contribution Age Restriction
2020 Tax Laws, IRA Contributions