Income Tax

December 7, 2017 

The new tax reform bills that passed the House and Senate were built on the “need for speed.” Both versions were rushed along in the hopes of a final measure arriving on the president’s desk before Christmas. But haste makes waste and, in this case, ...

Ken Berry, JD

November 28, 2017 

Under sweeping tax reform proposals being discussed in Congress, millions of taxpayers may no longer be itemizing tax deductions in 2018. This creates an added incentive to bolster 2017 donations.

Ken Berry, JD

November 22, 2017 

For those of you that are in the cannabis industry or just starting out, you have no doubt either been hit with a large tax bill or you are about to be. However, it doesn’t have to be that way. There are many steps that you can take legally just by ...

Craig Smalley

November 16, 2017 

House Republicans approved their sweeping tax-cut package Thursday, setting up a showdown with the Senate, where Republicans are struggling to take a different approach.

November 7, 2017 

Job holders' wages grew by 4.4 percent and job switchers' wages grew slightly less by 3.3 percent year over year in the third quarter. On average, job holders' hourly wage levels were $10 more than that of job switchers. Tracking full-time workers ...

November 7, 2017 

The IRS urges all taxpayers to file a complete and accurate tax return by making sure they have all the documents before they file their return, including their 2016 tax return. This includes Forms W-2 from employers, Forms 1099 from banks and other ...

November 7, 2017 

Newly released financial documents about offshore account holdings by many of the world's elite has amplified calls for Trump to publicly release his income tax returns. The Paradise Papers, named so because they emerged from an off-shore law firm ...

November 7, 2017 

California homeowners could see savings up to a couple hundred dollars a year off their property tax bill, depending on the type of capture system they install, Glazer’s office said.

November 2, 2017 

The current graduated seven-bracket structure would be reduced to four rates of 12%, 25%, 35% and 39.6%. The previous plan was based on only three brackets with a top rate of 35% and didn’t specify income amounts. Thus, this new plans preserves the ...

Ken Berry, JD

November 2, 2017 

Twenty-seven states — plus Washington, D.C. — index their minimum wages to rise automatically with the cost of living. More states will index minimum wage increases annually, starting in the following years, like: Minnesota (2018), Michigan (2019) and ...

November 2, 2017 

The plan would also repeal the alternative minimum tax (AMT) and the estate tax, while preserving the current status quo tax deferred treatment of 401(k) and similar accounts.

November 2, 2017 

The amount of the penalty is based on when you file the correct information return or furnish the correct payee statement. The penalty for not filing a correct information return is separate from the penalty for not providing the correct payee statement.