Blog

Who should be concerned with the SALT deduction?

October 14, 2019 3:42 PM

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

September 17, 2019 6:13 AM

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

September 9, 2019 5:37 AM

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...

Preparing Your Clients for Tax Changes in Retirement

September 4, 2019 9:52 AM

For most soon-to-be-retirees, preparing for the workforce-to-home transition involves at least one meeting with a financial advisor to ensure one's nest egg will provide adequate financial support. But unless this advisor moonlights as a tax expert, retirees who don’t seek some tax-specific advice may find...

The Tax Cuts and Jobs Act

August 14, 2019 2:55 AM

Because the Tax Cuts & Jobs Act made so many sweeping reforms to the way individual and business income taxes are calculated, it’s crucial for tax preparers to be up to speed on the many changes this law brought. From the end of itemized deductions (in all but the rarest of cases) to an extra tax break for S...