Articles
Tax Insight

DISASTER RELIEF  Several recent laws affect disaster relief for taxpayers. What does that mean for you? The Tax Cuts and Jobs Act (TCJA) removes the deductions for casualty and thefts, except for losses from disasters covered by specific federal disaster declarations. On the other hand, the limitations to casualty losses for some declared disasters are […]

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Tax Insight

Disability Severance Payments If you were discharged from military service due to a  medical issue between 1991 and 2016, you may have received a lump-sum Disability Severance Payment (DSP). The IRS treated these payments as income, even though they are recouped by decreases to Veterans Administration Disability Pensions in later years. In December 2016, President […]

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TAX INSIGHT

Important Tax Deadlines Aug. 15, 2018 – Extended exempt organizations returns due Sept. 17, 2018 – Third-quarter estimated taxes due Sept. 17, 2018 – Extended partnerships and S corporations returns due Oct. 15, 2018 – Extended individual tax returns due Tax Notes  The Tax Cuts and Jobs Act raised the Child Tax Credit from $1,000 […]

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Mid-Year Tax Checkup

It’s hard to believe that we are halfway through the year already. July is a good time to make sure that you are making the best choices for your tax health. Here are some tips to help make tax time 2019 less stressful. Check your withholding. The best thing that you can do to decrease […]

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What is this QBI deduction I’ve been hearing about?

One of the most talked-about parts of the Tax Cuts and Jobs Act is the QBI deduction, or qualified income business deduction. So what exactly is it, and can I get it? What is the QBI? The qualified business income deduction is a 20% deduction on most income from pass-through entities such as partnerships, S […]

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