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 […]
Medicaid Waiver Payments
Payments from State agencies to care providers are excluded from gross income per IRS Notice 2014-7 Are you receiving difficulty of care payments under a state medicaid waiver program? Did you know those payments could be tax free!!! Who qualifies for this tax benefit? Any caregiver who has been paid by state agencies to provide […]
Tax Scams
IRS Warns of New Phone Scam Involving Bogus Certified Letters; The Internal Revenue Service today warned people to beware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters call to demand an immediate tax payment through a prepaid debit card. This scam is being reported across the country, so […]