News & Events
Tax Reform Reminder: Changes to Itemized Deductions
Under tax reform, many tax laws changed, including those affecting itemized deductions. While many people no longer need to itemize due to the nearly doubling of the standard deduction, certain taxpayers whose total deductions exceed the standard deduction may still want to consider itemizing.
IRS Ends Tax Transcript Fax and Third-Party Services
Due to ongoing efforts to protect taxpayers from identity thieves, the Internal Revenue Service no longer offers tax transcript faxing service and third-party mailing of tax returns and certain transcripts.
10 Facts about the Adoption Tax Credit
If you adopt a child in 2019, you may qualify for a tax credit, and if your employer helped pay for the costs of an adoption, you may be able to exclude some of your income from tax.
Special Tax Breaks for Members of the Armed Forces
Active members of the U.S. Armed Forces should be aware that there are special tax benefits available to them such as not having to pay taxes on some types of income or more time to file and pay their federal taxes.
Your Canceled Debt Could Be Taxable
Generally, debt that is forgiven or canceled by a lender is considered taxable income by the IRS and must be included as income on your tax return.
Deducting Business-Related Car Expenses
If you’re self-employed and use your car for business, you can deduct certain business-related car expenses.
What to Do if You Receive an IRS CP2000 Notice
An IRS CP2000 notice is mailed to a taxpayer when income reported from third-party sources such as an employer, bank, or mortgage company does not
Tax Tips for Students With a Summer Job
Are you a student with a summer job or the parent of a student with a summer job? Here are seven things you should know about the income earned by students during the summer months.
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
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