Tag: tax changes

IRS Faces Perfect Storm With Shutdown Aftermath, Tax Law Implementation

Fort Lauderdale accountants
The IRS faces a challenging tax season.

As tax season approaches, the government shutdown, combined with implementation of Republican tax changes, the IRS faces an overwhelming challenge.

Officials have called many IRS workers back to their jobs for tax season. But many were not being paid. At the same time, the agency is trying to implement sweeping tax law changes.

According to the Washington Post:

Trainings for IRS employees…

Continue reading »

IRS Announces Increase In Mileage Rates

IRS
The IRS has released new mileage rates for 2019.

The IRS has announced new mileage rates for 2019, amounting to an increase in the rates for small businesses.

The new rates are:

 

  • 58 cents per mile for each business mile, up 3.5 cents from 54.5 cents for 2018;
  • 20 cents per mile to cover moving or medical purposes, up 2 cents from 18 cents for 2018;
  • 14 cents per…
    Continue reading »

IRS Gift Tax Rules Benefit Wealthy

IRS
New IRS rules benefit wealthy individuals who want to pass on their treasure.

The IRS has released proposed rules that will benefit wealthy individuals who wish to pass on their money.

The proposed IRS rules clarify gift and inheritance tax benefits passed as part of last year’s overhaul of the tax code by the Republican-controlled Congress and signed by President Donald Trump.

According to Continue reading »

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.)…

Continue reading »

Consult Fort Lauderdale accountants Sterling Accounting to get most of tax changes

Tax changes
Sweeping tax code changes require consultation with Fort Lauderdale accountants.

Tax changes passed last week are the most sweeping in a generation, and they aren’t simple. Which is why it pays to consult experts like the Fort Lauderdale accountants of Sterling Accounting to see how these changes will affect you and your business.

Here are some general outlines of what you can expect from the tax overhaul, as…

Continue reading »

IRS boosts mileage rates

 

Mileage rates
Walton Manors accountants Sterling Accounting are tracking IRS changes to mileage rates.

Wilton Manors accountants Sterling Accounting are always on the lookout for the latest and here’s something to take into account in 2018. The IRS has increased the optional standard mileage rates beginning Jan. 1.

The standard mileage rates will be:

  • 54.5 cents for every mile of business travel driven, up 1 cent from the rate for…
    Continue reading »

How Will Tax Pro’s Be Affected By Reform?

Tax reform is on the table, but with a number of big changes being proposed, how would the tax pro’s be affected?

“While the move to overhaul the tax system under the Trump administration’s tax reform proposal and the House GOP Blueprint may aim to greatly simplify taxes, it won’t mean there will be any less work for tax preparers…” [ Read more here ]

Continue reading »

Tax Changes To Note Before Filing Your Returns

Don’t let changing tax trends and laws affect your wallet – have the experts at Sterling Accounting take charge and get you the return you deserve.

“While the deductions and rules for filing will roughly remain the same, some of the numbers and tax brackets will be different, after being adjusted for inflation. “You can’t assume that what you relied on last year is necessarily the same,” says Barbara Weltman…” [ Read more…

Continue reading »