Taxes December 19, 2025
2025-2026 Tax Season Guide to OBBBA Tax Law Changes – SPECIAL SERIES
This series of articles spotlights key tax issues and changes made to tax law in 2025 and the years to come as a result of the OBBBA.
January 9, 2018
The Good and Bad About the New Tax Law
So let’s talk the standard deduction for a second. The standard deduction for individuals is $12,000, and for couples it is $24,000. Before someone is required to file a tax return, they have to meet the standard deduction. If you are self-employed, ...
January 9, 2018
2018 Federal Income Tax Refund Schedule – IRS Tax Day is April 17, 2018
But every year it seems like the income tax refund schedule is changed. In 2017, for example, returns with the earned income tax credit (EITC) or additional child tax credit (ACTC) were delayed by the IRS in order to deter fraud. For the 2018 income tax f
January 8, 2018
2018 Tax Reform: Pass-Through Income Deduction More Complex Than Thought
The new law carves out a brand-new tax deduction for owners of pass-through entities, including partners in partnerships, shareholders in S corporations, members of limited liability companies (LLCs) and sole proprietors.
January 7, 2018
Cryptocurrency 101: What You Need to Know
Currently, the US treats cryptocurrency as property. The IRS requires that the value of cryptocurrency be reported in US dollars with the fair market value determined at the time of payment or receipt. This calls for specific record keeping ...
January 7, 2018
How to Help Your Clients Avoid – Or Survive – A Sales Tax Audit
Many small and mid-size businesses hire accountants and bookkeepers with the expectation they’ll help prevent an audit. Unfortunately, you can’t guarantee your clients won’t be audited for sales and use tax. No one can: States need sales and use tax ...
January 5, 2018
2018 Income Tax Refunds Delayed for EITC and Child Tax Credit Returns
The IRS says that for the 2018 income tax filing season, taxpayers with the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will likely see delays in their refunds.
January 5, 2018
IRS to Start Accepting Tax Returns on Jan. 29, 2018
The IRS has announced that it will officially begin accepting returns for the 2017 tax year on January 29, 2018 (IR-2018-01, 1/4/18). This is a little later than usual to give the nation’s tax collection agency enough time to ensure security and ...
January 2, 2018
2018 Tax Reform Law has Benefits for Some Small Businesses
The TCJA also benefits many small businesses while presenting new obstacles. In general, the revised rules for businesses take effect in 2018 and are permanent, unlike most changes for individuals.
January 2, 2018
Effects of 2018 Tax Reform Law on Individuals, Deductions and Credits
Most of the key provisions likely to affect individual taxpayers take effect in 2018 (for taxes that will be reported by April 2019), but are scheduled to sunset after 2026. Keeping that in mind, here are the essentials you should know about.
January 2, 2018
A New Year and New Tax Laws: What Reform Means for IRS Tax Brackets and Deductions
The standard deduction is effectively doubled to $12,000 for single filers and $24,000 for joint filers, while the additional standard deductions for the elderly and blind are retained.
January 1, 2018
Tax Pro Shows Hidden Benefits of 2018 Tax Reform Law
There are so many cool things that you can do with this new tax law. I will be updating you on more of them soon.
January 1, 2018
2018 Tax Reform Law Doubles Child Tax Credit
The TCJA doubles increases the child tax credit (CTC) from $1,000 to $2,000 and raises the refundable portion of the CTC to $1,400. In addition, it authorizes a $500 nonrefundable credit for non-child dependents for taxpayers who don’t claim a CTC.