Month: November 2019

If you are a U.S. citizen or resident who made money last year, whether you must file a tax return or not is usually dependent on three things: gross income, filing status and age. Table 1 shows the minimum requirements for filing an income tax return. 2018 Filing Requirements for… Read More

One of the major provisions of the Tax Cuts and Jobs Act was the creation of a new deduction (Code Section 199A) for business owners operating as a sole proprietor, as a shareholder in an S Corporation or a partner in a partnership venture. This new deduction also extended to… Read More

You should probably take one very important estate planning action as soon as you finish reading this. Check the beneficiary designations for your: bank accounts, brokerage firm accounts, tax-favored retirement accounts, company benefit plans, life insurance policies, annuities, and 529 college savings accounts. If you have not yet turned in… Read More

The IRS has released a series of security related articles to assist both taxpayers and tax professionals in creating a secure computer environment. They encourage everyone to review the security protocols you have in place, what steps you are taking to protect your private information, and how to make your… Read More