IRS urges travelers requiring passports to pay their back taxes or enter into payment agreements…for people owing $51,000 or more, or you may be putting your passports in jeopardy! This month, the IRS will begin implementation of new procedures affecting individuals with “seriously delinquent tax debts.” These new procedures implement provisions of the Fixing America’s… Read More

We have all worked at places where we look at management and think how on earth is that person a manager. Managers play a  critical role in hiring and motivating employees, enforcing policies and rules, and promoting a fair and productive workplace. This is particularly true for small employers, where a single bad manager can wreak… Read More

With the onset of The Tax Cuts and Jobs Act we get many questions about how the tax changes effect your financial situation, AND the IRS gets plenty of questions as well, though they are slowly giving us the answers. (insert smiley here) Here are some recent questions they are asked (and answers) re the… Read More

After making significant progress in combating identity theft aimed at individuals, the IRS is shifting its focus to business identity theft. At a recent Nationwide Tax Forum, IRS Commissioner John Koskinen indicated that over 10,000 fraudulent business tax returns were filed by criminals during the 2017 filing seasons (up from 4,000 in 2016). This is… Read More

Although new federal income tax tables and rates will take effect on January 1, there may be a delay in release of withholding tax guidance from the U.S Treasury Department for employers. In the meantime, the Internal Revenue Service (IRS) has explained that employers may use existing (2017) withholding tax tables and guidance until new… Read More

Instead of making an outright sale of commercial or investment property, the tax law enables you to “swap” it for like-kind property with out paying any current tax. However, things aren’t usually so cut-and-dried in the real world. For one thing, it is unlikely the potential buyer of your property will own any real estate… Read More

Yes I know this is a late Christmas blog, but I felt since we are a Tax & Bookkeeping Service that my focus should be on the current tax changes….BUT since it is Christmas I felt I would do a fun blog about buying gifts for your partner at various relationship stages. Happy Holidays! When… Read More

I’m one of those people that love to read…books, magazines, journals. I used to list reading as a hobby on those questionnaires that I would answer but too many people called me a nerd so I stopped and replaced “reading” with “fishing.” I find that in December there are so many lists that are published… Read More

Say Your aging parents live in a home that has appreciated in value, but they’re no longer reaping any of the home ownership tax breaks during their retirement years. Sound familiar? Good news: With one stroke of the pen, both you and your parents can win: They’d gain instant access to their home equity (without… Read More