IRS Issues Pass-Through Tax Deduction Guidelines

tax
There’s plenty of complexity in the new tax law.

An aspect of tax reform that could provide significant savings for owners of pass-through businesses will also require plenty of work to claim.

One part of the tax bill passed at the end of last was allowing a 20 percent deduction on income from pass-through businesses. But it’s not as simple as it may seem. The IRS recently issued…

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Will Tax Changes Cost You?

tax changes
Don’t let tax changes catch you flat-footed.

If you haven’t taken into account tax changes, you may be in for a nasty surprise.

That’s because you may not be holding out enough of your paycheck to qualify for a refund next year, thanks to tax changes passed by Congress last year.

According to the Washington Post:

Sen. Ron Wyden (D-Ore.) and Rep. Richard Neal (D-Mass.)…

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Senators Introduce IRS Reform Bill

IRS
Congress is considering reforms to the IRS.

Two Senators have introduced a bill they say will reform some parts of the IRS and help low-income taxpayers.

Sens. Rob Portman, R-Ohio, and Ben Cardin, D-Md., last week introduced the Protecting Taxpayers Act.  The bipartisan legislation focuses on improving the organizational structure of the IRS and making it easier for small businesses and retirement plan administrators to comply…

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Wilton Manors Accountants Tips: Choosing The Right Accountant For Your Business

Wilton Manors Accountants
Let the Wilton Manors accountants of Sterling Accounting give you a hand.

Most business owners didn’t start their companies because they wanted to tend to accounting. But few functions are more important, and that’s why hiring someone like the Wilton Manors Accountants of Sterling Accounting is so important.

If you aren’t familiar with accounting, though, how can you choose the right firm? And how do you even…

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Back Taxes Could Cost You Your Passport

taxes
If you owe too much in back taxes, your passport application could be denied.

If you’re behind on your taxes, you could face trouble traveling internationally.

That’s because the government plans to reject passport applications from taxpayers who owe more than $51,000 in overdue taxes.

According to CNBC:

The State Department denies passport applications based on the information on outstanding debts it receives from the IRS.

As many…

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IRS Teams Up With Other Tax Collectors To Tackle Cryptocurrency

IRS
The IRS has formed an international team to go after cyber tax crimes.

If you’ve got a horde of bitcoin stashed on a computer and haven’t let Uncle Sam know, the IRS could be coming after you. The same thing is true in other countries such as Australia.

The IRS has launched the Joint Chiefs Global Tax Enforcement (J5) coalition to go after tax fraudsters….

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Wilton Manors Book Keepers Aim To Keep You On Sound Financial Footing

Wilton Manors book keepers
Wilton Manors book keepers gather tips to keep your finances on track.

Expertise doesn’t come easily in accounting, which is why the Wilton Manors book keepers of Sterling Accounting dedicate themselves to helping businesses navigate their finances properly.

But our dedication to businesses goes beyond providing the best expertise of our Wilton Manors book keepers to passing along some of the tips we see. Here…

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Treasury Secretary Promises Postcard-Sized 1040 Form

taxes
Taxes could be simpler next year.

Treasury Secretary Steven Mnuchin said the IRS 1040 form for taxes being released this week will be much smaller than the current form.

“It will be a postcard, as we have promised,” he said, according to the Wall Street Journal. “Hardworking taxpayers won’t have to spend nearly as much time filling out their taxes.”

That simpler form is the result…

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Have You Just Missed This Tax Deadline? Contact Wilton Manors Accountants

Wilton Manors accountants
Contact Wilton Manors accountants to handle taxes on deadline.

Most Americans have taken care of their tax filing obligations for the year. But if you’re your own boss, you may not be like most Americans. Getting in touch with qualified tax preparers such as the Wilton Manors accountants of Sterling Accounting may be in your best interest.

As CNBC points out, if you have income from a…

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When Is The Right Time For Your Business To Talk To Wilton Manors Book Keepers?

Wilton Manors book keepers
Wilton Manors book keepers can help keep your business on track.

As a business owner, you wear many hats. But a green eyeshade doesn’t have to be one of them if you contact the Wilton Manors book keepers of Sterling Accounting.

But how do you know you need help? Here are a few tips to determine whether calling Wilton Manors’ book keepers is the right…

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