Blog
Using Section 199A how much can I deduct with a pass-through?
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...
2020 PTIN Renewal Season Now Open
We are less than 90 days from 2020 and it's already time - crazy as it sounds - to start getting ready the 2020 tax season. You can now renew your PTIN for the 2020 tax season and for tax preparers who want to take advantage of the IRS's Annual Filing Season Program (AFSP) benefits, they are due by December 31,...
Who should be concerned with the SALT deduction?
Who should or shouldn’t be using the SALT deduction? Here is Dr Bart with his “bit” to answer this question “And let's talk about what we call it, SALT deduction. Remember, this is just $10,000. It's so important that we had to put one or two slides in to make sure you are aware of it. Look at the...
How the Tax Cuts and Jobs Act Impacts Mortgage Pre-Payment
The Tax Cuts and Jobs Act (TCJA)made some sweeping changes to a wide range of federal income tax provisions. While not every amendment impacts every taxpayer, those related to the deductibility of state and local taxes (SALT) and the mortgage interest deduction could significantly change the analysis residents use...
What to Know About Connecticut's New Tax Preparer Requirements
In 2018, Connecticut passed a law to regulate who can provide tax preparation services, making it one of only a handful of states to do so. In support of this comprehensive legislation, the Connecticut Commissioner of Revenue Services described the current setup as "pretty much the wild, wild west," leaving...