by Accent452023 | Oct 9, 2018 | Taxes, Video & InfoGraphics
With so much confusion regarding tax reform, we put together a side by side comparison of the old and new law. (Click the image to increase size)
by Accent452023 | Sep 27, 2018 | Medical, Tax Central, Tax Reform, Taxes
The Affordable Care Act (Obamacare) included a “shared responsibility payment,” which in reality is a penalty for not having health insurance. Along with this penalty came a whole slew of exemptions from the penalty, including some that were designated as “hardship”...
by Accent452023 | Sep 13, 2018 | Business, Medical, Tax Central, Tax Planning, Taxes
Article Highlights: Increased Standard Deduction Tax-Exempt Income Impairment-Related Work Expenses Financially Disabled Earned Income Tax Credit Child or Dependent Care Credit Special Medical Deductions Qualified Medicaid Waiver Payments ABLE Accounts Taxpayers with...
by Accent452023 | Sep 3, 2018 | Tax Central, Tax Problems, Taxes
The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended. This comes to less than 4 percent, but that projection still affects a significant number of taxpayers. Filing an...
by Accent452023 | Aug 28, 2018 | Tax Central, Tax Reform, Taxes
Article Highlights: SALT Tax Limits State Work-arounds Converting Tax Deductions to Charitable Contributions IRS Regulations Taxpayer Beware Tax reform has limited the federal itemized deduction for state income and local government taxes (including property taxes),...
by Accent452023 | Apr 3, 2018 | Reminders, Tax Central, Taxes
Article 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 is no penalty for filing late if...