2019 Year-end Tax Planning

Now that the 2019 third quarter has passed, it is now time to begin thinking of tax planning strategies to be implemented before the end of the year. It is important to provide your tax advisor with your most current year-to-date income, as well as any other relevant tax information o

New IRS Withholding Estimator

The IRS has created an upgrade to their Withholding Calculator to reflect the new tax law changes.

Surprised by Your 2018 Tax Bill?

With the massive overhaul to the code in 2018, many filers are finding out that their tax situation has changed. The IRS has announced that it will waive the underpayment penalty for taxpayers who paid at least eighty-five percent of their total tax liability during calendar year 2018

IRS Waives Penalty for Many

The IRS has announced that it will be waiving the penalty for the underpayment of estimated tax for many taxpayers whose estimated tax payments and federal income tax withholdings came up short for the 2018 tax year. The underpayment penalty relief is intended to provide assistance to
Tax deduction

Is Your Business A Specified Service Business?

The Tax Cuts and Jobs Act (TCJA) created a new deduction for qualified business income. However, business income that comes from a specified service business is not eligible once taxable income reaches a certain limit. So, what is considered a specified service business? The IRS defin