The recent changes to the tax code resulting from the Tax Cuts and Jobs Act uniquely effects each individual filing an income tax return.
As a result of the Tax Cuts and Jobs Act, the IRS has released an IRS Withholding Calculator to help individuals determine if they are on target with their federal withholding.
Posted by : Jordon Rosen, CPA, MST, AEP® The centerpiece of the Tax Cuts & Jobs Act (the “Act”) was the reduction in the top corporate income tax rate from 35% to 21%. This includes personal service corporations which were previously taxed at a flat rate of 35%. However, since many U.S. businesses operate as a flow-through entity (i.e., partnership or … Continued
Posted By Dave Jennings, CPA and Valerie Middlebrooks CPA We are writing to make you aware of a significant change in Pennsylvania tax law that may impact your business. The changes made are for 2018 Form 1099s which will be filed in 2019. First, if you meet one of the parameters below, you are now required to withhold at the … Continued
The Tax Cuts and Jobs Act changed and suspended many deductions that taxpayers could take on their individual tax returns.
With the tax reform bill signed into law it is time to prepare for changes to the existing withholding tables and systems. Although the new tax bill has initially taken effect as of January 1, 2018, the IRS is still working on developing and issuing the withholding guidance.
Bookkeeping is not likely the first item on a business owner’s list of things they enjoy about running their company.
Congress is enacting the biggest tax reform law in thirty years, one that will make fundamental changes in the way you, your family, and your business calculate your federal income tax bill, and the amount of federal tax you will pay.
You may or may not know your retirement date, or whether you intend to retire early or continue working as long as you can.
As we prepare for the approaching tax filing season, we have some important information to share regarding the filing of certain Forms 1099-MISC.