2019

What to Do if You Missed the Tax Deadline

2019, Tax Deadline, Missed the Tax Deadline, What to Do if You Missed the Tax Deadline

Monday, April 15, 2019, was the tax deadline for most taxpayers to file their tax returns. If you haven't filed a 2018 tax return yet, it's not too late.

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10 Identity Theft Tips You Don't Want to Miss

Identity Theft, Fraud, Tax Scams, IRS Scam Warning, Tax-Tip Tuesday, 2019, 2019 Alert

In 2017, there were 16.7 million victims of identity fraud. A terrifying number, but there are steps you can take to prevent and report this criminal act. 

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Is Home Equity Loan Interest Still Deductible?

Deductions, Tax-Tip Tuesday, 2019, Home Equity Loan Interest

The Tax Cuts and Jobs Act has resulted in questions from taxpayers about many tax provisions including whether interest paid on home equity loans is still deductible.

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SCAM ALERT: Fake Calls from Taxpayer Advocate Service

Brinker Simpson, Tax Scams, 2019, Alert, New Scam, 2019 Alert, Taxpayer Advocate Service, Fake Calls

Like clockwork, every year, there's a new twist on old scams. This year, it is the IRS phone scam whereby criminals impersonate IRS agents and make fake calls from the Taxpayer Advocate Service.

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The Qualified Small Business Stock Exclusion

Tax Breaks, Tax Planning for Small Businesses, Big 3, Tax Benefits, Small Business, 2019, Qualified Small Business Stock Exclusion

As the driving force in today's economy, small businesses benefit from numerous tax breaks in the tax code. One of these, the Qualified Small Business Stock (QSBS), was made permanent by the PATH Act (Protecting Americans from Tax Hikes Act of 2015). If you're a small business investor, here's what you need to know about this often-overlooked tax break.

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Are Social Security Benefits Taxable?

Tax-Tip Tuesday, Tax Benefits, Social Security, 2019, Taxable Social Security Benefits

Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income (SSI) payments, which are not taxable.

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Deadline for Retirement Distributions - April 1st

Tax-Tip Tuesday, 2019, 2018 Tax Return, Retirement Distributions, Deadline

In most cases, taxpayers who turned 70 1/2 during 2018 must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by Monday, April 1, 2019.

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5 Frequently Asked Tax Questions in 2019

Tax-Tip Tuesday, 2019, Tax Filing, Tax Questions

In 2019, Americans around the world began filing their taxes under the new Tax Cuts and Jobs Act.   Some tax breaks have been eliminated or capped, while others have been expanded or introduced.

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Avoiding the Penalty on Early Distributions

Tax-Tip Tuesday, 2019, 2018 Tax Return, Avoiding Penalty on Early Distributions, Distributions, Penalty Relief

Many people use IRAs, SEP Plans, SIMPLE IRA plans, and employer-sponsored retirement savings plans such as the 401(k) to save money for their retirement years, but what if you need to tap that money before age 59 1/2?

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Penalty Relief for Withholding: Estimated Tax Shortfalls

Tax-Tip Tuesday, 2019, Tax Consequences, 2018 Tax Return, Penalty Relief for Withholding, Estimated Tax Shortfalls

The estimated tax penalty has been waived for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year; however, there is a catch:

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