January 11, 2018
A Final Article on Cannabis and Section 280E
For this, my final article on cannabis taxation, get ready to get your mind blown.
January 9, 2018
Is Your 2018 Income Tax Refund Late? This May Be the Reason, And When You Should Receive Your IRS Refund
The IRS has announced that taxpayers with the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will likely see delays in receiving their income tax refunds in 2018. This is due to extra fraud prevention measures the agency is implementing, which means that taxpayers with those credits will likely not see...…
January 9, 2018
2018 Tax Reform Law – Index of Articles
The new tax reform law covers many aspects, from business taxation to individuals and deductions, which can make it challenging for taxpayers and tax professionals to keep up with the changes.
January 9, 2018
Estate Planning and the New 2018 Tax Law
The estate tax exemption and the gift tax work together in a sense that you have a unified lifetime credit for gifts, which match the estate tax exemption. The unified credit increases each year, along with the estate tax exemption. Each year there is ...
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 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
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.
December 28, 2017
New Tax Law Complicates Property Tax Deduction: How Pre-Paying Can Help
Before the new tax reform law – the Tax Cuts and Jobs Act (TCJA) -- was finalized, Congress made a slight concession to residents of high-tax states by including a limited deduction for state and local taxes (SALT), which includes state income, sales ...
December 24, 2017
When Will New 2018 Tax Reform Law Take Effect?
On the Friday before Christmas, President Trump signed the new tax reform bill into law. The Tax Cuts and Jobs Act will take effect January 1, 2018, but when will most taxpayers see the effects? When will they see more money in their wallets?