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