Taxes February 6, 2026
IRS Issues Proposed Rules on Clean Fuel Tax Credit
The Treasury Department and the IRS released proposed regulations Feb. 3 on the clean fuel production credit under the One Big Beautiful Bill Act.
January 9, 2018
2018 Tax Reform Law – Index of Articles
The new tax reform law covers many aspects, from business taxation to individuals and deductions, which can make it challenging for taxpayers and tax professionals to keep up with the changes.
January 9, 2018
Estate Planning and the New 2018 Tax Law
The estate tax exemption and the gift tax work together in a sense that you have a unified lifetime credit for gifts, which match the estate tax exemption. The unified credit increases each year, along with the estate tax exemption. Each year there is ...
January 9, 2018
How the New Tax Law Affects Cryptocurrency
In 2014, the IRS classified cryptocurrency as property, and not currency. How property is taxed is that if you hold an asset for less than a year, and you sell it, you pay ordinary income tax at your ordinary tax rate. If you hold that asset for a year ..
January 9, 2018
The Good and Bad About the New Tax Law
So let’s talk the standard deduction for a second. The standard deduction for individuals is $12,000, and for couples it is $24,000. Before someone is required to file a tax return, they have to meet the standard deduction. If you are self-employed, ...
January 9, 2018
2018 Federal Income Tax Refund Schedule – IRS Tax Day is April 17, 2018
But every year it seems like the income tax refund schedule is changed. In 2017, for example, returns with the earned income tax credit (EITC) or additional child tax credit (ACTC) were delayed by the IRS in order to deter fraud. For the 2018 income tax f
January 8, 2018
2018 Tax Reform: Pass-Through Income Deduction More Complex Than Thought
The new law carves out a brand-new tax deduction for owners of pass-through entities, including partners in partnerships, shareholders in S corporations, members of limited liability companies (LLCs) and sole proprietors.
January 7, 2018
Cryptocurrency 101: What You Need to Know
Currently, the US treats cryptocurrency as property. The IRS requires that the value of cryptocurrency be reported in US dollars with the fair market value determined at the time of payment or receipt. This calls for specific record keeping ...
January 7, 2018
How to Help Your Clients Avoid – Or Survive – A Sales Tax Audit
Many small and mid-size businesses hire accountants and bookkeepers with the expectation they’ll help prevent an audit. Unfortunately, you can’t guarantee your clients won’t be audited for sales and use tax. No one can: States need sales and use tax ...
January 5, 2018
2018 Income Tax Refunds Delayed for EITC and Child Tax Credit Returns
The IRS says that for the 2018 income tax filing season, taxpayers with the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will likely see delays in their refunds.
January 5, 2018
IRS to Start Accepting Tax Returns on Jan. 29, 2018
The IRS has announced that it will officially begin accepting returns for the 2017 tax year on January 29, 2018 (IR-2018-01, 1/4/18). This is a little later than usual to give the nation’s tax collection agency enough time to ensure security and ...
January 2, 2018
2018 Tax Reform Law has Benefits for Some Small Businesses
The TCJA also benefits many small businesses while presenting new obstacles. In general, the revised rules for businesses take effect in 2018 and are permanent, unlike most changes for individuals.
January 2, 2018
Effects of 2018 Tax Reform Law on Individuals, Deductions and Credits
Most of the key provisions likely to affect individual taxpayers take effect in 2018 (for taxes that will be reported by April 2019), but are scheduled to sunset after 2026. Keeping that in mind, here are the essentials you should know about.