Are you behind on filing your federal income tax return or paying your federal IRS taxes in the last year or more? If so, you’re not alone. More than 22 million taxpayers in the U.S. have either failed to file a tax return or are behind in paying their IRS taxes due, and that was […]
New Tax Deadline Is Official — July 15, 2020
Both the IRS and Treasury have announced that the deadline to file AND pay your individual federal income tax for the tax year of 2019 has been extended to July 15, 2020. Many states have extended their deadlines as well; please check with us to determine the deadline applicable to you if you live in […]
Accounting Tasks at Year-End
You might wonder why there are so many extra tasks at year-end. While the government requires much of the work, there is clean-up work and adjustments that need to be done to make the books accurate. It’s not always cost-effective to perform all of these updates monthly, so you’re actually saving money by doing some […]
The FIRPTA Process for Foreign Investors
There are few acronyms scarier to a non-resdient real estate investor than FIRPTA. By now, most real estate investors, agents, bankers, title companies and just about anyone involved in real estate is familiar with the dreaded FIRPTA. It can make or break deals.So what is FIRPTA? In a nutshell, FIRPTA laws require that a non-resident […]
The Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act made major changes to the tax law and those changes will begin to take affect in 2018. Some of the major changes affect the current withholding rates. Some of those changes are as follows: 1) Reduced tax rates. 2) Elimination of personal exemptions. 3) Increased standard deductions: $12,000 for singles, […]