I know, I know. You already hate reading about taxes. But, you really need to know about these changes. Today, we’ll continue with Part IV. (Here is a link to yesterday’s Part III.)
Continue reading What Changes Affect My Filing Taxes in 2017 (Part IV)
We’re not quite half-way throught yet. (The most recent update on our tax laws can be found here.) Today, we’ll talk about some exemptions from Obamacare, changes for employers (and when we’ll get their 1099s and W2s), plus changes to our social security taxes and overseas employment exemptions.
Continue reading What Changes Affect My Tax Filing in 2017 (Part III)
So, Monday, I started this 4000+ word piece on the changes that affect the tax laws and how filings are to be done this coming tax season. So, you will understand how (and why) to file your business or personal taxes. But, always paying the lowest amount of money required by law. Let’s continue!
Continue reading What Changes Affect My Filing Taxes in 2017 (Part II)
Over the course of this year, I’ve written (check the “Search” box on the right, with the keyword ‘Tax’ or click on the black band above and choose the “Taxes” section to find those articles) about the ridiculous way our (your?) Congress has acted to update our tax laws. By including tax code provisions in a highway bill, a mass transit bill, and a trade package bill- plus within the Bipartisan Budget Act and the PATH (Protecting Americans from Tax Hikes) Acts. (Those last two were, indeed, logical places to regulate taxes.)
Continue reading What Changes Affect My Filing Taxes in 2017 (Part I)
A new day may be dawning. Or not.
Most of you know that I work with a slew of folks and companies to help them pay the lowest amount of taxes required by law. No cheating, no subterfuge- just availing themselves of all the laws that afford folks to pay their taxes- but only the amount they owe, not some number that is afforded by plugging in numbers to TurboTax, H&R Block, TaxAct, etc.
Continue reading Has Hell Frozen Over?
I’ve mentioned (even as recently as yesterday) that the IRS has sophisticated processes to determine who needs to be audited. The algorithms are called DIF and UI DIF. While the IRS explains how and why it does what it does (Publication 556) , the actual formulae are never shared with anyone. Because they would be invitations to cheat- knowing how to tweak the numbers to avoid an audit.
Continue reading What’s the DIF?
I know you hate doing your taxes. But, the IRS gave you three more days this year. Because of the calendar and holidays, your federal taxes are due today- the 18th of April. So, what DID you do over the weekend?
Continue reading Come on- now?
No, this post has nothing to do with Tina Fey’s new movie. I even considered using a term I learned when I was about 7. the headline on the (then ultraliberal, now ridiculously conservative) New York Post that read ‘SNAFU’. And, when I confronted my dad to define the term for me, there was a great deal of hemming and hawing, until he came up with ‘Situation Normal, All Fouled Up’. (By now, i am sure you’ve discerned the true definition of the term.)
Continue reading Whiskey. Tango. Foxtrot.
So, I wrote last week about choosing your tax professional well. That also includes those of you whose income is low enough to be entitled to use free tax preparation on line. (Oh- and if you pay to use those online tax services, these same admonitions apply.)
One of the most common questions I receive this time of year (other than: “Can I please do their taxes?”) is. “What are my chances for an audit?”
Continue reading The Taxman Cometh- NOT!
