Unfortunately, I don’t make a million dollars a year in income. Yet, strangely enough I’m offended by our Governor’s proposal to tax earnings above one million dollars. Why do I care? For a Governor who repeatedly talks about tax fairness this proposal strikes me to be anything but fair. I feel it is disingenuous to […]
Tax Tips
Take these steps now to avoid a tax surprise in 2019
If you want to head off a tax bill from Uncle Sam next spring, right now is the best time to prepare. Mid-year tax planning is especially important in 2018, experts say, as accountants and their clients grapple with a volley of changes from the Tax Cuts and Jobs Act. Updates under the new law […]
What to Do about the New “Section 199A” Small Business Tax Deduction
Back in December, President Donald Trump signed the Tax Cuts and Jobs Act. Congress had included in the act a “20 percent of X” tax deduction for owners of pass-through businesses, and most small businesses owners celebrated. “This is the first broad brush deduction available only to businesses owners since the inception of the Federal […]
Ten Takeaways from the Tax Reform for HNW Individuals
The Tax Cuts and Jobs Act introduced significant changes to the taxation of high-net-worth individuals. The changes particularly affect globally mobile clients and multi-jurisdictional families with U.S. connections. Here are some key takeaways for international HNW individuals. Read the full article here>>
Avoid the Rush: Some Taxpayers May Need Prior-Year Tax Data
The Internal Revenue Service today reminded taxpayers who have changed tax software products that they may need information from their 2016 tax return to complete their taxes this year. It’s always a good idea to keep copies of previously-filed tax returns. That recommendation is more important this year because, for some taxpayers, certain data from […]
Preparing for Upcoming Taxes: 5 Things You Can Do Now
Your income tax obligation needs to be on your mind year-round. Here are some ways you can get a jump on your taxes. Summer’s over. The kids are back in school. And soon, there’ll be only three months left. If you haven’t started thinking about how to minimize your income tax obligation for this year, […]