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I Didn't File My Tax Return; Now What?

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There are a lot of perfectly reasonable reasons for not having filed your income taxes. Many people who fail to file are new to the job market, and never having filed before may simply have been unaware of the requirement to do so. Some people…
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Preparing for Taxes for 2018 and Beyond

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Article Highlights: Increase In Standard Deduction Loss of Personal Exemptions Changes to Itemized Deductions Bunching Strategy Employee Business Expenses Business Expensing 20% Flow-through Income Deduction Change…
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You May Not Get a Tax Refund Next Year

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Article Highlights:  Payroll Withholding W-4 2018 Tax Projection Adjusting Withholding With all of the tax reform changes and the corresponding reductions in most taxpayers’ income tax withholding, there are serious concerns…
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Don’t Toss Those Tax Records Yet!

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Article Highlights: Reasons to Keep Records Statute of Limitations Maintaining Record of Asset Basis  Even though the 2017 tax due date has come and gone, and even though you have filed your 2017 tax return, you may still need…
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How to Understand Common IRS Tax Terms

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Article Highlights Filing status Adjusted gross income (AGI) Taxable income Marginal tax rate. Alternative minimum tax (AMT) Tax Credits Underpayment of estimated tax penalty When discussing taxes, reading tax related…
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Tax Filing Deadline Rapidly Approaching

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Highlights: 2017 balance due payments IRA contributions for 2017 Estimated tax payments for first quarter 2018 Statute of limitation 2018 refunds Just a reminder that the due date for 2017 tax returns is April 17, 2018! There…
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Got student loans? Don't make this major tax mistake

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Article by Anna Bahney | Found on CNN If you've been paying off student loans, don't make the mistake of filing your taxes without getting a deduction on the interest you've paid on your loans. "If you're paying 4% [interest] on your loans…
Living Abroad? Here Is How Tax Reform May Affect You

Living Abroad? Here Is How Tax Reform May Affect You

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If you are an expatriate living abroad, you may be wondering how the provisions of the Tax Cuts and Jobs Act (TCJA) will impact you. This is the most extensive tax change in over 30 years, and although it was touted as tax simplification when…
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Can’t Pay Your Taxes by the April Due Date?

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Article Highlights: What to Do If You Can’t Pay Loans Credit Card Payments IRS Installment Agreements Retirement Funds If you aren’t one of those lucky Americans who gets a tax refund from the IRS you might be wondering…
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Where Do You Fall In The Tax Pecking Order?

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Article Highlights: 2015 Overall Filing Statistics Statistics by Adjusted Gross Income Percentile Table Ever wonder where your income puts you in comparison with the rest of the U.S. taxpayers? Each year the Internal Revenue Service…