Tag: return

  • What Is Your Taxpayer Filing Status?

    What Is Your Taxpayer Filing Status?

    For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on your tax return for the year. When you file your return, you do so with one of five filing statuses, which depend in part on whether you’re married or unmarried on December…

  • Three Questions You May Have After You File Your Return

    Three Questions You May Have After You File Your Return

    Once your 2018 tax return has been successfully filed with the IRS, you may still have some questions. Here are brief answers to three questions that we’re frequently asked at this time of year. Question #1: What tax records can I throw away now? At a minimum, keep tax records related to your return for…

  • The 2018 Gift Tax Return Deadline Is Almost Here

    The 2018 Gift Tax Return Deadline Is Almost Here

    Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2018 gift tax return — or whether filing one would be beneficial even if it isn’t required. Filing requirements Generally, you must file a gift tax return for 2018…

  • Beware the Ides of March — If You Own a Pass-through Entity

    Beware the Ides of March — If You Own a Pass-through Entity

    Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March 15, is the federal income tax filing deadline for these “pass-through” entities. Not-so-ancient history Until…

  • Three Big TCJA Changes Affecting 2018 Individual Tax Returns and Beyond

    Three Big TCJA Changes Affecting 2018 Individual Tax Returns and Beyond

    When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes to personal exemptions, standard deductions and the child credit. The degree…

  • Why You Shouldn’t Wait to File Your 2018 Income Tax Return

    Why You Shouldn’t Wait to File Your 2018 Income Tax Return

    The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can. Why? You can potentially protect yourself from tax identity theft — and reap other benefits, too. What is tax…

  • You Still Have Time to Get Substantiation for 2018 Donations

    You Still Have Time to Get Substantiation for 2018 Donations

    If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t received such a letter — can you still claim an itemized deduction for the gift on your 2018 income tax return? It depends. Basic requirements…

  • What Will Your Marginal Income Tax Rate Be?

    What Will Your Marginal Income Tax Rate Be?

    While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing status. But some may see additional tax savings due to their filing…

  • 2019 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

    2019 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

    Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January…

  • 2018 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

    2018 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

    Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. July…