Income Tax

January 15, 2020 

In our very long and complex tax code, tax deductions come in all shapes and sizes, and have a lot of sticky rules attached to them. For example, business expenses must be ordinary (common and accepted in an industry) and necessary ...

January 13, 2020 

The act allows flow-through businesses in New Jersey, such as sub-S corporations, partnerships, LLCs or sole proprietorships, to elect to pay income taxes at the entity level instead of at the personal income tax level — helping to alleviate the tax ...

January 7, 2020 

The below chart shows an estimated timeline for when a taxpayer is likely to receive their refund, based on the information we have now, and using projections based on previous years. If your IRS income tax refund is delayed, ask your tax professional...

January 1, 2020 

The good news is that there's no reason to get refund loans or other such services, since you can get your refund in as little as 10 days if you file early and e-file your tax return.

December 31, 2019 

57.5 cents per mile driven for business use, down one half of a cent from the rate for 2019, 17 cents per mile driven for medical or moving purposes, down three cents from the rate for 2019, and 14 cents per mile driven in service of charitable ...

December 31, 2019 

The below chart shows an estimated timeline for when a taxpayer is likely to receive their refund, based on the information we have now, and using projections based on previous years. If your IRS income tax refund is delayed, ask your tax professional...

December 30, 2019 

Taxpayers can receive their income tax refund by direct deposit, with no refund loan charges, as early as January 31. This chart shows how fast you can get your refund, based on when you file your tax return with the IRS.

December 27, 2019 

This chart shows an estimated timeline for when a taxpayer is likely to receive their refund, based on the information we have now, and using projections based on previous years. If your IRS income tax refund is delayed ...

December 18, 2019 

The new legislation is expected to be signed by President Trump soon after it hits his desk. Keeping that in mind, here are some of the key extensions granted by Congress right before Christmas.

December 15, 2019 

The appeal to the Supreme Court is the final bid in Trump’s long-standing crusade to shelter his tax returns from prying eyes. The lower courts have consistently ruled against the president in prior proceedings.

Doug Sleeter

December 6, 2019 

Additionally, the TCJA changed how taxable income is calculated for purposes of the Foreign Tax Credit limitation by disregarding certain expenses and repealing the use of the fair market value method for allocating interest expense.

December 6, 2019 

Certain Forms 1099-MISC, Miscellaneous Income, filed with the IRS to report non-employee compensation to independent contractors are also due at this time. Such payments are reported in box 7 of this form.