Rental Real Estate Qualifies as a Business

A safe harbor is now available for taxpayers seeking to claim the section 199A deduction with respect to a "rental real estate enterprise." What this means is that certain interests in rental real estate - including interests in mixed-use property - are allowed to be treated as a trade or business for purposes of [...]

Rental Real Estate Qualifies as a Business2019-12-28T21:34:21+00:00

Expat Compliance With US Tax Filing Obligations

Taxpayers who relinquish citizenship without complying with their U.S. tax obligations are subject to the significant tax consequences of the U.S. expatriation tax regime. If you're an expat who has relinquished -- or intends to relinquish -- your US citizenship but still has US tax filing obligations (including owing back taxes) you'll be relieved [...]

Expat Compliance With US Tax Filing Obligations2019-12-28T21:33:30+00:00

Employer Credit for Family and Medical Leave

Thanks to the passage of the Tax Cuts and Jobs Act last year, there's a new tax benefit for employers: the employer credit for paid family and medical leave. As the name implies, employers may claim the credit based on wages paid to qualifying employees while they are on family and medical leave. Here [...]

Employer Credit for Family and Medical Leave2019-12-28T21:32:38+00:00

Be Prepared When Natural Disasters Strike

While September and October are prime time for Atlantic hurricanes, natural disasters of any kind can strike at any time. As such, it's a good idea for taxpayers to think about - and plan ahead for - what they can do to be prepared. Here are four tips to help taxpayers be prepared: 1. [...]

Be Prepared When Natural Disasters Strike2019-12-28T21:31:48+00:00

File 2018 Tax Returns by Oct. 15 Extension Deadline

Time is running short for taxpayers who requested an extra six months to file their 2018 tax return. As a reminder, Tuesday, October 15, 2019, is the extension deadline for most taxpayers. For taxpayers who have not yet filed, here are a few tips to keep in mind about the extension deadline and taxes: [...]

File 2018 Tax Returns by Oct. 15 Extension Deadline2019-12-28T21:31:03+00:00

Tax Advantages of S-Corporations

As a small business owner, figuring out which form of business structure to use when you started was one of the most important decisions you had to make; however, it's always a good idea to periodically revisit that decision as your business grows. For example, as a sole proprietor, you must pay a self-employment [...]

Tax Advantages of S-Corporations2019-12-28T21:25:19+00:00

Small Business: Tips for Ensuring Financial Success

Can you point your company in the direction of financial success, step on the gas, and then sit back and wait to arrive at your destination? While you may wish it was that easy, the truth is that you can't let your business run on autopilot and expect good results and any business owner [...]

Small Business: Tips for Ensuring Financial Success2019-12-28T21:23:12+00:00

New Tax Rules for Divorce and Alimony Payments

Divorce is a painful reality for many people both emotionally and financially, and quite often, the last thing on anyone's mind is the effect a divorce or separation will have on their tax situation. To make matters worse, most court decisions do not take into account the effects divorce or separation has on your [...]

New Tax Rules for Divorce and Alimony Payments2019-12-28T21:22:22+00:00

Tax Preparation vs. Tax Planning

Many people assume tax planning is the same as tax preparation but the two are actually quite different. Let's take a closer look: What is Tax Preparation? Tax preparation is the process of preparing and filing a tax return. Generally, it is a one-time event that culminates in signing your return and finding out [...]

Tax Preparation vs. Tax Planning2019-12-28T21:21:43+00:00

Tax Due Dates for September 2019

September 10 Employees Who Work for Tips - If you received $20 or more in tips during August, report them to your employer. You can use Form 4070. September 16 Individuals - Make a payment of your 2019 estimated tax if you are not paying your income tax for the year through withholding (or [...]

Tax Due Dates for September 20192019-12-28T21:20:48+00:00
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