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November 1, 2022
Anthony Menichiello
What do the 2023 cost-of-living adjustment ...

Don’t forget to factor 2023 cost-of-living adjustments into your year-end tax planning.

What do the 2023 cost-of-living adjustment numbers mean for you?
August 31, 2022
Anthony Menichiello
IRS offers penalty relief for 2019, 2020 tax ...

The IRS is providing broad-based penalty relief to most taxpayers who filed certain 2019 and/or 2020 tax returns late due to the COVID-19 pandemic. Find out if you might qualify.

IRS offers penalty relief for 2019, 2020 tax years
August 4, 2022
Anthony Menichiello
Businesses: Act now to make the most out of ...

If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax break.

Businesses: Act now to make the most out of bonus depreciation
July 19, 2022
Anthony Menichiello
Standard business mileage rate will increase ...

Because of the soaring price of gasoline, the IRS has increased the standard mileage rate for qualified business driving for the second half of 2022 from 58.5 cents per mile to 62.5 cents per mile.

Standard business mileage rate will increase for the second half of 2022
March 30, 2021
Anthony Menichiello
Make the most of the Employee Retention Credit

Is your business taking full advantage of the Employee Retention Credit?

Make the most of the Employee Retention Credit
Anthony Menichiello
May 21, 2018

Watch out for tax-related identity theft scams all year long

Anthony Menichiello
May 21, 2018
Watch out for tax-related identity theft scams all year long

Tax-related identity theft can affect individuals and businesses alike. Understanding the latest scams and knowing what to do if you become a victim or target can help mitigate damages.

Comment
Anthony Menichiello
April 23, 2018

Home equity borrowers get good news from the IRS

Anthony Menichiello
April 23, 2018
Home equity borrowers get good news from the IRS

If you’re considering a home equity loan, know that, as of Jan. 1, the rules have changed under the Tax Cuts and Jobs Act. The IRS recently provided information about these loans and the news is good.

Comment
Anthony Menichiello
April 17, 2018

IRS sheds light on new limit on business interest expense deductions

Anthony Menichiello
April 17, 2018
IRS sheds light on new limit on business interest expense deductions

The IRS has issued interim guidance on the new business interest expense deductions created by the Tax Cuts and Jobs Act. Even though the guidance offers needed clarification, areas of ambiguity remain.

Comment
Anthony Menichiello
April 10, 2018

Haven’t filed your 2017 income tax return yet? Beware of these pitfalls

Anthony Menichiello
April 10, 2018
Haven’t filed your 2017 income tax return yet? Beware of these pitfalls

The April 17 individual income tax return filing deadline is almost here. If you haven’t filed yet, watch out for these pitfalls.

Comment
Anthony Menichiello
April 3, 2018

You still have time to make 2017 IRA contributions

Anthony Menichiello
April 3, 2018
You still have time to make 2017 IRA contributions

Have you made your 2017 IRA contributions? Just because we’re in 2018 doesn’t mean it’s too late. But you need to act soon.

Comment
Anthony Menichiello
March 27, 2018

2018 Q2 tax calendar: Key deadlines for businesses and other employers

Anthony Menichiello
March 27, 2018
2018 Q2 tax calendar: Key deadlines for businesses and other employers

Does the April 17 filing deadline apply to your company? What additional tax deadlines are there for businesses and other employers during the second quarter of 2018? Find out!

Comment
Anthony Menichiello
March 16, 2018

The pass-through provisions of the TCJA: The devil is in the details

Anthony Menichiello
March 16, 2018
The pass-through provisions of the TCJA: The devil is in the details

The Tax Cuts and Jobs Act established a deduction based on a noncorporate owner’s qualified business income (QBI). It’s available to individuals who own interests in pass-through business entities.

Comment
Anthony Menichiello
February 13, 2018

2018 tax calendar

Anthony Menichiello
February 13, 2018
2018 tax calendar

Reference this tax calendar to learn the deadlines of various tax-related forms and payments.

Comment
Anthony Menichiello
January 23, 2018

Can you deduct home office expenses?

Anthony Menichiello
January 23, 2018
Can you deduct home office expenses?

You might be able to deduct home office expenses for 2017 but not 2018. The difference may depend on whether you’re an employee or self-employed.

1 Comment
Anthony Menichiello
January 18, 2018

Personal exemptions and standard deductions and tax credits, oh my!

Anthony Menichiello
January 18, 2018
Personal exemptions and standard deductions and tax credits, oh my!

It’s the total impact of the TCJA’s reduced tax rates and other changes that will determine whether your tax liability drops for 2018. Changes to the personal exemption, standard deduction and child credit are just the tip of the iceberg.

1 Comment
Anthony Menichiello
January 17, 2018

IRS issues updated 2018 withholding tables

Anthony Menichiello
January 17, 2018
IRS issues updated 2018 withholding tables

Based on the Tax Cuts and Jobs Act, the IRS issues revised 2018 withholding tables.

Comment
Anthony Menichiello
January 11, 2018

Don’t be a victim of tax identity theft: File your 2017 return early

Anthony Menichiello
January 11, 2018
Don’t be a victim of tax identity theft: File your 2017 return early

At tax filing time, a large tax bill isn’t your only risk. So is tax identity theft. To protect yourself, be speedy.

Comment
Anthony Menichiello
January 2, 2018

The TCJA temporarily expands bonus depreciation

Anthony Menichiello
January 2, 2018
The TCJA temporarily expands bonus depreciation

Bonus depreciation allows businesses to deduct more of an asset’s cost in the year the asset is placed in service. The new tax law’s enhanced bonus depreciation provision may save tax on your 2017 return.

1 Comment
Anthony Menichiello
December 21, 2017

New tax law brings big changes for individual taxpayers

Anthony Menichiello
December 21, 2017
New tax law brings big changes for individual taxpayers

Broad changes are in store for individual taxpayers under the Tax Cuts and Jobs Act.

Comment
Anthony Menichiello
December 20, 2017

Congress passes biggest tax bill since 1986

Anthony Menichiello
December 20, 2017
Congress passes biggest tax bill since 1986

The Tax Cuts and Jobs Act significantly overhauls federal tax law.

Comment
Anthony Menichiello
December 6, 2017

2018 Q1 tax calendar: Key deadlines for businesses and other employers

Anthony Menichiello
December 6, 2017
2018 Q1 tax calendar: Key deadlines for businesses and other employers

To avoid interest and penalties, it’s important for businesses to be prepared for upcoming tax-related deadlines. Make sure you know what’s due in Q1 of 2018.

Comment
Anthony Menichiello
December 4, 2017

House and Senate tax bills head to reconciliation

Anthony Menichiello
December 4, 2017
House and Senate tax bills head to reconciliation

The Tax Cuts and Jobs Act takes another step toward becoming law.

Comment
Anthony Menichiello
November 28, 2017

Even if your income is high, your family may be able to benefit from the 0% long-term capital gains rate

Anthony Menichiello
November 28, 2017
Even if your income is high, your family may be able to benefit from the 0% long-term capital gains rate

A 15% or 20% tax rate generally applies to long-term capital gains. But a 0% rate is available for taxpayers in the two lowest income tax brackets. Here’s how higher-bracket taxpayers can take advantage of the 0% rate.

Comment
Anthony Menichiello
November 27, 2017

Retirement savings opportunity for the self-employed

Anthony Menichiello
November 27, 2017
Retirement savings opportunity for the self-employed

Contributions to qualified retirement plans generally are tax deductible or pretax. If you’re self-employed, you can boost your tax-advantaged saving by setting up a retirement plan for 2017.

Comment
Anthony Menichiello
November 21, 2017

You may need to add RMDs to your year-end to-do list

Anthony Menichiello
November 21, 2017
You may need to add RMDs to your year-end to-do list

Taxpayers who have a retirement plan and are over age 70½ or inherited the plan may be subject to required minimum distribution (RMD) rules. If you’re one of them, take your RMDs by Dec. 31 to avoid a 50% penalty.

1 Comment
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