Mar 19, 2019 | Firm Updates, Individual Tax, Tax Tips
If you’re the parent of a child who is age 17 to 23, and you pay all (or most) of his or her expenses, you may be surprised to learn you’re not eligible for the child tax credit. But there’s a dependent tax credit that may be available to you. It’s not as valuable as...
Mar 12, 2019 | Firm Updates, Individual Tax, Tax Tips
Did you make large gifts to your children, grandchildren, or other heirs last year? If so, it’s important to determine whether you’re required to file a 2018 gift tax return—or whether filing one would be beneficial even if it isn’t required. Filing requirements...
Mar 5, 2019 | Firm Updates, Individual Tax, Tax Tips
It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. However, the Tax Cuts and Jobs Act (TCJA) might reduce your deduction compared to what you claimed on your 2017 return. For 2017, miles driven...
Mar 1, 2019 | Firm Updates, Individual Tax, Tax Tips
If you have a retirement plan account, please see important deadlines below in 2019: March 15 – Employer Contribution Deadline for Partnerships and S-Corporations Income tax returns for calendar-year businesses structured as a partnership or S-corporations are due...
Feb 26, 2019 | Firm Updates, Small Business, Tax Tips
Shakespeare’s words don’t apply just to Julius Caesar—they also apply to calendar-year partnerships, S corporations, and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March...
Feb 19, 2019 | Firm Updates, Individual Tax, Tax Tips
While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks, it limits or eliminates several itemized deductions that have been valuable to many individual taxpayers. Here are five deductions you may see shrink or disappear when...
