Category: Taxes
-
Why the tax law might not mean much to you (but a lot for the rich)
We now have the final details of the federal income tax bill published about 10 hours ago1. It seems natural for a tax geek like me to immediately calculate the effect the tax bill has on my family. My family is clearly in the ‘middle of the middle class’ by any measurement we may choose…
-
Adjusting payroll taxes for 2018
Once all the political commotion over tax reform settles, what most people care about is “Is my paycheck going up or down?” The problem is complicated by politicians promising a big tax cut on the television news and through social media channels while accountants warn that some people will likely pay more. The end result…
-
Facebook Live: “30 Minutes to Faster, Easier, Cheaper Small Business Accounting”
Look for online announcements of upcoming presentations. I will be hosting a series of free, short, fast-paced online programs for small business owners, self-employed folks and part-time freelancers. The intent is to help us prepare to save time and money on tax accounting in 2018. It will be Facebook Live presentation with the ability to…
-
Tax preparers consider expanding small business services
Now more than ever before, tax preparers are considering expanding their practice into small business services. We expect the number of self-employed people will continue to rise. They require assistance with a wider range of business support services than traditional individual tax clients. The market for these services is evolving at a rapid pace. Integrated…
-
Graduate students outraged by tax change
The tax reform process has triggered uncertainly and angst while final negotiations are worked out. Many groups, including graduate students, have good reason to be concerned. The proposals that passed by Republicans in both the House and Senate change the tax treatment of employer-provided educational benefits. Scholarships that are now tax-free for employees would be…
-
Remember this night!
Remember this night. Tonight all 52 Republican Senators voted against letting anyone read the new tax code with its many previously unknown special interest amendments crammed in at the last minute and then freshly marked up with handwritten changes added by lobbyists before they required a vote on it. Shocking but true. When the details…
-
Tax Cuts And Jobs Act: simply a bad idea for our nation
The Organization for Economic Cooperation and Development (OECD) is a unique forum where the governments of 34 democracies with market economies work with each other, as well as with more than 70 non-member economies to promote economic growth, prosperity, and sustainable development. It’s latest report shows the underlying fallacies of the current U.S. tax reform…
-
Small businesses join forces to defeat tax reform proposal
As we approach the final weeks of Congressional voting for 2017, small business groups are banding together to oppose the tax reform plan that favors the wealthiest few with more than a Trillion dollars of tax cuts they don’t need while putting the nation much deeper into debt. These groups have announced opposition to the…
-
Basics of Taxpayer Representation
Tax-related stress does not need to remain a burden over the holidays and into the next year. A simple no-obligation discussion can often start the process to a resolution that everyone can handle. From time to time individual and business taxpayers run into complications with the Internal Revenue Service or another tax authority. These issues…