Tax

Fast Track Helps Small Businesses Resolve IRS Matters Swiftly

December 22, 2017

Small business owners and self-employed individuals who are looking to settle factual or legal issues between themselves and the IRS, can use the Fast Track Settlement (“FTS”) program made available by the IRS’s Small Business/Self-Employed Division. The program started as a pilot in 2006, and was made permanent in March 2017 through Revenue Procedure 2017-25.…

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President Signs Sweeping Tax Overhaul Bill into Law

December 22, 2017

On December 20th, 2017, Congress approved the final version of the “Tax Cuts and Jobs Act.” Earlier today, President Trump signed this bill into law. This is the first major tax overhaul since Ronald Reagan was president. It will have far-reaching effects on all individuals and businesses. Please click below for a special report on key…

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The Latest on Tax Reform

December 19, 2017

On December 15th, 2017 the House and Senate conference committee released the final version of the “Tax Cuts and Jobs Act,” a sweeping tax reform proposal. The Conference bill would impact virtually every individual and business on a level not seen in over 30 years.  Please click below for a special report on key aspects of…

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What’s the State of Your State Taxes?

December 15, 2017

It Depends on the State All fifty states and the District of Columbia impose taxes at different rates and on different sources of income. Some states maintain reciprocal agreements with other states, usually neighboring ones, whereby they agree not to tax some income from those states. If you’re contemplating a move to a new state,…

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All Charitable Deductions Aren’t Created Equal

November 29, 2017

With the end of the year quickly approaching, your supporters may be planning to make charitable contributions that are deductible on their 2017 federal tax returns. If you want to keep those supporters on a long term basis, though, you should explain that different types of donations have different tax benefits — and some donations…

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Tax Issues can Affect Kids, Too

November 28, 2017

Most people with children take into account the financial implications of their care — for instance, they prioritize paying for their children’s food, shelter, clothing and education. But they might not even consider the fact that taxes can affect minors, too. Parents should familiarize themselves with the tax implications of the “kiddie tax,” hiring their…

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