New Tax Law Decisions

If you think the New Tax Law is nirvana, think again! Yes, the New Tax Law nearly DOUBLED the Standard Deduction and did DOUBLE the Child Tax Credit; however, the New Tax Law will have lots of “dilemmas”, shall we say, that will need to be navigated to be sure your...

IRS Announces Lower Prepay Before Penalty

The U.S. Tax System is pay-as-you-go, meaning taxpayers are required to pay most of their tax obligation during as opposed to at the end of the tax year.  In order for this to happen, the law requires a taxpayer to pay during the year: At least 90% of the current tax...

IRS Recalls Workers for Tax Season

Tax Season begins January 28th, and as of Tuesday, January 15, 2019, according to Michael Cohn of Accounting Today, the IRS released a revised Shutdown Contingency Plan calling for more than 46,000 IRS employees to return to work to prepare for Tax Filing Season, with...

New Tax Law Boiled Down

The new tax law has many changes in it, in my opinion, the most significant of which is the elimination of the Personal & Dependent Exemptions and the increase in the Standard Deduction. Let me explain: First, the new law kept the seven tax brackets, but changed...

Health Care: More Washington Theatrics

Frankly, in my opinion, all of the controversy yesterday, March 7, 2017, over the American Health Care Act is simply A LOT MORE Washington Theatrics. Yes, there are Refundable Tax Credits, which die hard conservatives disagree with, but how else are folks that cannot...

Trump’s Speech: Rhetoric vs. Specifics

Oh well, another rhetorical Presidential speech to both houses of Congress; however, what Presidential speech in front of Congress EVER laid out a lot of specifics? Then there’s Cory Booker, a rising star in the Democratic Party: “This speech was more of...