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IRS Reminds Small Business Owners About Their Tax Breaks
In honor of National Small Business Week, celebrated from May 5 through 11 this year, the Internal Revenue Service issued a press release highlighting the many tax benefits available to small business owners and investors. While some of these credits, deductions, and offsets have been available to small businesses...
Tax Cuts and Jobs Acts Drafting Error Slows Business Remodeling Plans
The effects of the sweeping changes enacted by 2017's Tax Cuts and Jobs Act (TCJA) were only recently illuminated during the 2018 tax season. And while many individual and corporate taxpayers were pleasantly surprised by a reduction in their total tax liability, others—especially those in the restaurant and grocery...
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If you participate in the IRS Annual Filing Season Program, then you have found the best provider in the industry! So, what is the MTCO Difference? The MTCO Difference is all about YOU! Your career, your success, and your lifestyle! MTCO makes it easy to get your Record of Completion...
What to Know About Summer Jobs and Teen Taxes
Many parents of teenagers can wonder how (or whether) their teen's first job will affect their income taxes. Are they on the hook for taxes owed if the teen is claimed as a dependent? What happens if the teenager doesn't file a tax return? Read on for answers to some common questions parents may have about teen wage...
In 2019, It's All About Tax Withholding
Many taxpayers were surprised to learn that their 2018 income tax withholdings didn't cover as much of their outstanding tax obligations as they'd expected. Instead of getting hefty refunds, some taxpayers got much more modest ones; others wound up wincing as they wrote checks to the IRS. Criticism for these...