Do I Qualify For The QBI Deduction?

by | Sep 17, 2019 | Blog

Individuals, trusts, and estates with qualified business income (QBI) may qualify for the 20% QBI deduction. If you have income from partnerships, S corporations, sole proprietorships, you might be eligible for this 20% deduction. Any income you receive from a C...

Amending Your Tax Return to Include Cryptocurrency Sales

by | Aug 8, 2019 | Blog

The IRS recently announced that they will be sending notices to 10,000 taxpayers regarding missing cryptocurrency transactions from their returns. The IRS will send out letters 6173, 6174, and 6174A. These letters are similar to the notices being sent out to persons...

Top Tax Filing Mistakes – And How to Avoid Them

by | Jun 24, 2019 | Blog

Making mistakes on your tax return can cost you money: You may miss out on a larger refund than you claimed, wind up owing more taxes – plus interest and penalties – or invite an IRS audit. The best defense against these results is a good offense, namely avoiding...

Tax Relief

by | Jun 24, 2019 | Blog

What is Tax Relief Tax relief is any program or incentive that reduces the amount of tax owed by an individual or business entity. Examples of tax relief include the allowable deduction for pension contributions, and temporary incentives such as tax credits for the...

IRS Publication 15 (Employer’s Tax Guide)

by | Jun 24, 2019 | Blog

What Is the IRS Publication 15 (Employer’s Tax Guide) The IRS Publication 15- Employer’s Tax Guide is a document published by the Internal Revenue Service detailing an employer’s responsibilities for filing and reporting tax information. The document...

Internal Revenue Service (IRS)

by | Jun 24, 2019 | Blog

What Is the Internal Revenue Service (IRS)? The Internal Revenue Service (IRS) is a U.S. government agency responsible for the collection of taxes and enforcement of tax laws. Established in 1862 by President Abraham Lincoln, the agency operates under the authority of...