Tag: personal taxes

Tax Season Is Around The Corner

Tax season
Tax season is almost here.

Tax season will kick off toward the end of January regardless of the government shutdown, the IRS says.

The agency announced that tax season will begin Jan. 29.

“We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown. I appreciate the hard work of the employees and their commitment to the taxpayers during this period,” said IRS…

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There’s Still Time To Save On Taxes With These Holiday Tips

Taxes
‘Tis the season to save on taxes.

‘Tis the season to put your last-minute strategies in place to save on taxes.

And there are a few things you can do in the waning weeks of the year to reduce the amount you pay in taxes. Here are some tips.

Get your charitable ducks in a row

You have until December 31 to make charitable deductions that will save you money…

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Wilton Manors Accountants Have Your Needs Covered

Wilton Manors accountants
The Wilton Manors accountants of Sterling Accounting can help with multiple issues.

Whether you’re looking for top notch tax preparation or business bookkeeping, the Wilton Manors accountants of Sterling Accounting can help.

As the Wilton Manors accountants point out on Sterling’s website: “We serve every client with a depth of resources and the highest level of expertise offering personal attention and access that…

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Withholding Changes Could Lead To Issues With Taxes

taxes
Our expertise in taxes can help you navigate issues with withholding.

Many Americans may face trouble with taxes because they’ve failed to take into account new withholding rules.

According to CNBC:

The IRS has been warning filers all year to ensure they’re withholding enough tax from their pay in order to avoid a surprise tax bill in 2019.

Turns out, few people seem to be listening.

At least that’s…

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IRS Boosts Limits For Retirement Accounts

IRS
The IRS has increased contribution limits for retirement accounts.

The IRS announced last week it had increased contribution limits for retirement accounts for 2019.

According to Money Magazine:

The cap on annual contributions to a traditional and Roth IRA, which hadn’t changed since 2013, will rise to $6,000 from $5,500. The catch-up contribution to these accounts for those ages 50…

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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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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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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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