Happy Memorial Day!
I can’t believe we are coming up to the Memorial Day weekend. This is always a good time to pause and reflect on the sacrifices of our brave heroes [...]
Taking care of business: recordkeeping for small businesses
We get asked this question frequently and it is an important issue….record keeping. The IRS gives very good guidance on when and why one should keep good accounting of [...]
Roth Conversions
Most of our clients have a significant portion of their wealth in IRAs and company retirement plans. There may be a benefit to moving money among different plans, each [...]
Fake IRS Calls Increase During Tax Season
Unfortunately, tax season always brings out the scammers. IRS just issued the following advice and reminders. If you should ever receive any contact from IRS, either real or a [...]
Client Mailbag- Gambling Winnings
Dear Mike; I just got back from a trip to Vegas and was lucky and had some good winnings. Are these gains taxable? Cool Hand Luke Dear Cool Hand [...]
IRS Waives Penalty for Many Whose Tax Withholding and Estimated Tax Payments Fell Short in the 2018 Tax Year
The IRS has just released news of waiving the penalty for many taxpayers whose tax withholding and estimated tax payments fell short in 2018. The following was posted by [...]
Don’t take the bait: Here’s how taxpayers can avoid getting caught by a phishing scam
Data thieves don’t take a break during the holidays. In fact, the IRS warns taxpayers that the agency is seeing a large increase in bogus email schemes that seek to [...]
Crypto-Currency
In our ongoing series on year-end tax tips, we thought we would address Crypto-currency trading. Although the crypto craze seems to be slowing, we find many of our clients have [...]
Bunching Deductions
It’s that time of year again — time to start planning to cut your taxes. Our next few articles will feature ideas we have to try and reduce your [...]
Hurricane Relief
With the hurricane headed for the east coast we thought it would be a good idea for our clients in the path of the storm to see the IRS’ [...]
The Impact of the Tax Cuts Act on Retirement Plans and IRAs
The Tax Cuts and Jobs Act modifies several provisions related to retirement plans and IRAs. These include: the repeal of the special rule permitting recharacterization of Roth IRA conversions, [...]
The Impact of the Tax Cuts and Jobs Act on Home Ownership and Financing
As summer is winding down we are getting a lot of client questions about real estate transactions and how mortgage refinancing impacts their tax situation. We thought we would [...]