Welcome to 2019 and a delayed provision of the tax reform, also known as the Tax Cuts and Jobs Act (TCJA). Big tax changes for divorce decrees are now in effect.
Tax law permits you to take a distribution from your IRA account, and as long as you return the distribution to your IRA (IRS rollover) within 60 days, there are no tax ramifications. However, [...]
Four states – New York, Connecticut, Maryland and New Jersey – have sued the federal government to void the tax-reform cap on the federal itemized deduction for state and local taxes, contending [...]
As you probably know, when the new tax bill (Tax Cuts and Jobs Act) passed last year in Congress, many personal deductions were eliminated starting in 2018 including employee business expenses.
Not all provisions of the Tax Cuts and Jobs Act are beneficial to taxpayers. One notable negative provision is the suspension of the deduction for employee business expense.
If you use independent contractors to perform services for your business and you pay them $600 or more for the year, you are required to issue them a Form 1099-MISC after the end of the year to [...]
The IRS mails millions of notices and letters to taxpayers each year. There are a variety of reasons why they might send you a notice. Here are the top 10 tips to know in case you get one.