Tax Reform and the State and Local Tax (SALT) Deduction If your clients live in a state that imposes a sales, income, property or real estate tax, the IRS will allow them to deduct those amounts on their federal income tax return to lower their tax bill. Before the tax laws changed, there was no …
Tax Reform and the State and Local Tax (SALT) Deduction Read More »
Federal beneficiaries have more time to register for an Economic Impact Payment <p style=”background: white; margin: 0in 0in 7.5pt 0in;”>Federal beneficiaries who got their Economic Impact Payment but didn’t register to receive a $500 supplemental payment per qualifying child can still register for this additional payment using the <a style=”box-sizing: border-box; transition: all 0.3s ease 0s;” …
Federal beneficiaries have more time to register for an Economic Impact Payment Read More »
Tax Pros: The Circular 230 and Publication 947 are now available in Spanish As part of an ongoing effort to provide more useful information and better assistance to many communities, the IRS is making two key publications for tax professionals available in Spanish. A Spanish-language version of Publication 947, Practice Before the IRS and Power of …
Tax Pros: The Circular 230 and Publication 947 are now available in Spanish Read More »
New income ranges for IRA eligibility in 2021 <p>There are cost‑of‑living adjustments that may affect a taxpayer’s pension plan and other retirement-related savings next year. People should familiarize themselves with these adjustments, so they aren’t caught off guard.</p><h2>Here are some highlights of the 2021 changes:</h2><h3>The income ranges for these actions all increased for 2021:</h3><ul><li>Determining eligibility …
New income ranges for IRA eligibility in 2021 Read More »
IRS resources to help small business owners <p>This week is <a href=”https://www.sba.gov/national-veterans-small-business-week” data-extlink=””>National Veterans Small Business Week</a>. The IRS has a variety of resources to help small business owners, including veterans, understand their tax responsibilities. Best of all, most of these resources are available online at IRS.gov.</p><h2>Here’s a few webpages with helpful information for small business …
IRS resources to help small business owners Read More »
Reminder to all taxpayers: Gift cards are not used to make tax payments <p>Gift cards are a popular and convenient gift for all occasions. They’re also a tool that scammers use to steal money from people.<br /><br />Scammers often target taxpayers by asking them to pay a fake tax bill with gift cards. They may …
Reminder to all taxpayers: Gift cards are not used to make tax payments Read More »
Need To File Your Taxes Now? Refund results in real time. Tax-Turbo Finance Accounting. Tax-Turbo online tax filing includes more forms than H &R Block, and TurboTax. Plus, we offer more credits & deductions. We offer over 350 deductions to be exact.
