With tax season here, chances are you are probably asking yourself which tax deductions and tax credits will you be able to claim for your 2018 tax return, unless of course you did some tax planning before the end of 2018 and you have an idea of what to expect this tax season. Tax credits […]
Financial
-
-
The legislation popularly known as the Tax Cuts & Jobs Act did not exactly “rewrite the book” of federal tax laws, but it almost seems that way. On January 1, a host of important, new tax provisions entered the Internal Revenue Code, and others were suddenly repealed. Due to these reforms, federal tax law has […]
-
It’s important that a taxpayer uses the right filing status because it can affect the amount of tax they owe for the year. It may even determine if they must file a tax return at all. Taxpayers should keep in mind that their marital status on December 31st is their status for the whole year. […]
-
Tax planning can help you with decision making when it comes to purchasing or selling assets for your business and can result in you paying less tax. Is there a difference between Tax Preparation and Tax Planning? Yes, with tax preparation you are looking at history. This is a reactive approach. Once December 31st of […]
-
Do you know which one are you? 1. Real Estate Dealer Status: is defined as someone who is involved in real estate as a “trade or business” This designation is given on a property basis. That means it is possible for the taxpayer to be treated for tax purposes as a dealer on one property […]
-
Is there a difference between Tax Preparation and Tax Planning? Yes, with tax preparation you are looking at history. Once December 31st of each year is over you can’t change history. Anything you could have taken advantage of to reduce your tax liability is over. All you can do is sit and wait for all […]
-
Esther Phahla, CPA, announced July 26, 2018 that she is now a Certified Tax Strategist. This is the highest-level designation that started out as one of just under 700 tax professionals who has completed the American Institute for Certified Tax Planners training academy leading to the Certified Tax Coach designation. You start out as a […]
