Smishing – What you need to know
What is Smishing? Smishing is a form of phishing, smishing is when someone tries to trick you into giving them your private information via a text or SMS message. Smishing is becoming an emerging...
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IRS Now Accepting Returns Claiming Some (But Not All) Tax Extenders
The Internal Revenue Service (IRS) has confirmed that it is now ready to process tax year 2017 returns claiming three popular tax benefits which were recently renewed retroactively. As part of the budget deal...
Do you participate in the sharing economy?
If you receive income from a sharing economy activity, it’s generally taxable even if you don’t receive form 1099-MISC, 1099-K, W2 or some other tax statement.
A 2017 federal tax deduction for prepaying anticipated 2018 state income taxes or property taxes? Not likely!
In anticipation of enactment of the House and Senate proposed federal tax legislation, some commentators and tax practitioners are suggesting that — in view of the likely elimination of the state income tax deduction...
Penalties for not filing correct information returns like 1098, 1099, W-2 and W-2G have increased
Effective with returns due after January 1, 2016, penalties for not filing correct information returns and/or not furnishing correct payee statements have increased and are now subject to inflationary adjustments. Examples of affected forms...
“REDUCE YOUR RISK BY HIRING A TAX CONSULTANT TO ASSESS YOUR FINANCES”
Nearly 80% of the time new clients come to our office, we end up amending their prior year’s tax returns. Most common reason for amendment is that taxpayer missed out on claiming a deduction...