by raleighcpa | Jan 17, 2019 | Uncategorized
Read to see if these apply to your situation… WASHINGTON — The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total...
by raleighcpa | Dec 11, 2018 | Blog, Deductions, Tax Payments, Tax Returns
While last year’s Tax Cuts and Jobs Act includes tax changes for both individuals and businesses, this publication is specifically geared to individual taxpayers. It breaks down the law in easy-to-understand language. The publication highlights the changes that...
by raleighcpa | Dec 2, 2018 | 1099, W2
Compass Checks reminds you that employers and other businesses have until Jan. 31, 2019 to file wage statements and independent contractor forms. Requirements The Protecting Americans from Tax Hikes (PATH) Act of 2015 provides a requirement for employers to file their...
by raleighcpa | Nov 19, 2018 | Deductions, Tax Returns, TCJA 2017, Vehicle Depreciation
The Tax Cuts and Jobs Act of 2017 (TCJA) increased depreciation limits for passenger vehicles (not SUVs). If the taxpayer doesn’t claim bonus depreciation, the greatest allowable depreciation deduction is: $10,000 for the first year, $16,000 for the second year,...
by raleighcpa | Nov 17, 2018 | IRS2GO Mobile App, Offer in Compromise, Tax Payment Plans, Tax Payments, Uncategorized
The Internal Revenue Service reminds taxpayers who can’t pay the full amount of federal taxes they owe that they should file their tax return on time and pay as much as possible. This will help reduce penalties and interest. If they can’t pay it all, they have some...
by raleighcpa | Jun 14, 2016 | Blog
Now that tax time is over, here are three things you need to be doing to help your business… 1. Communicate ….with your CPA or Accountant Review your tax return …he has time to go over the details with you now that his “crunch time” is over Get the year-end...
