Blog

Why is it a good idea to do a "Withholding Checkup" with your clients?

February 11, 2020 5:03 AM

With the passage of the Tax Cuts and Jobs Act came some sweeping changes to the IRS's withholding calculator and tables. Many taxpayers who previously under-withheld on their W-4 to balance their itemized deductions—and who didn't re-evaluate their withholding strategy with the TCJA's tweaks to itemized...

Helping Taxpayers Who Have Under-Withheld

January 30, 2020 6:26 AM

The General Accounting Office (GAO) just released a report to warn U.S. taxpayers that around 30 million of them are withholding too little from their paycheck. Unless these taxpayers make changes to their W-4s or send in estimated tax payments, they could be in for an unpleasant surprise next spring. But with many...

Everything You Need to Know about the Annual Filing Season Program

December 16, 2019 2:55 AM

Everything You Need to Know About The Annual Filing Season Program (AFSP) The U.S. Tax Code can be seriously complicated. Because of this, many taxpayers don’t feel confident preparing their own federal income tax returns, even with tax software. But using a Certified Public Accountant (CPA), an Enrolled Agent...

Do you Aspire to a Higher Degree of Professionalism?

November 13, 2019 11:30 AM

The AFSP was designed by the IRS just for that purpose. Enrolled Agents and CPA’s have their respective qualifications but previously there was no way to recognize the largest group – the tax preparers. Tax preparers handle a tremendous amount of the countries tax returns and like their CPA and EA counterparts...

Using Section 199A how much can I deduct with a pass-through?

November 4, 2019 12:27 PM

Using Section 199A how much can I deduct with a pass-through? Here is Dr Bart with his “bit” to answer this question “Section 199A of the Tax Law. This has created a tremendous amount of concern and problems. This is, again, if you want to look at it, take a look at the final regulations in...