Tax information from the IRS and shared by Vernoia, Enterline + Brewer, CPA LLC.
With just a few months left in tax year 2018, the Internal Revenue Service today urges small business owners to learn about how the new tax law changes may affect them.
Small business, self-employed should plan now for new changes Read More »
Tax reform legislation passed in December 2017 includes changes that affect businesses. One of these changes allows businesses to write off most depreciable business assets in the year they place them in service.
100-percent depreciation deduction benefits business taxpayers Read More »
With tax reform bringing major changes for the year ahead, the Internal Revenue Service today urged retirees to make sure they are paying in enough tax during the year by using the Withholding Calculator, available on IRS.gov.
Retirees: Avoid a surprise tax bill Read More »
Hurricane Florence victims in parts of North Carolina and elsewhere have until Jan. 31, 2019, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced.
Extended deadlines tax relief for victims of Hurricane Florence Read More »
The IRS reminds individuals and businesses that they have additional time to file an administrative claim or bring a civil action for wrongful levy or seizure. Tax reform legislation enacted in December extended the time limit from nine months to two years.
Taxpayers have more time to challenge levy Read More »
If you use one of the many online platforms available to rent a spare bedroom, provide car rides, or to connect and provide a number of other goods or services, you’re involved in what is sometimes called the sharing economy.
Dealing in the Sharing Economy Read More »
Before starting a summer job, taking a vacation or sending the kids off to camp, the Internal Revenue Service wants taxpayers to know that some summertime activities may qualify for tax credits or deductions.
IRS offers summer tips for temporary jobs, marriage, deductions and credits Read More »
When you hire someone to work in your home, you may become an employer. Thus, you may have specific tax obligations, such as withholding and paying Social Security and Medicare (FICA) taxes and possibly federal and state unemployment insurance.
4 Questions to Ask Before Hiring Household Help Read More »
With more than 2 million Individual Taxpayer Identification Numbers (ITINs) set to expire at the end of 2018, the Internal Revenue Service today urged affected taxpayers to submit their renewal applications soon to beat the rush and avoid refund delays next year.
2 Million ITINs to Expire This Year Read More »
With hurricane season running through November 30, taxpayers should remember that criminals and scammers often try to take advantage of generous taxpayers who want to help disaster victims. Everyone should be vigilant, because scams often pop up after a hurricane.
Watch for Scams During Hurricane Season Read More »