Recent News
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End Of The Year Reports Are Due
If you have employees, don’t forget to file your IRS 2018 year-end reports. The reports listed below are due by January 31st, 2019. IRS Form 941 for 4th Quarter 2018 – Employer’s Quarterly Federal Tax Return IRS Form 940 for 2018 – Employer’s Annual Federal...
Natural Disasters and Taxes
As a fellow canine, it’s hard to imagine other four-legged pals shaking and covering their eyes with their paws because of a natural disaster. We dread natural disasters more than the mailman who doesn’t bring bones with his deliveries. But a lot of times, we’re...
Real Estate Rehab and Tax Credits
In December 2017, legislators passed tax reform involving taxpayers who are home- owners looking to restore or renovate old homes or historically important buildings. This rehabilitation tax credit was created to entice property owners to earn tax breaks and credits....
Donations and Taxes
Lately I’ve been panting over charitable donations. They’re for good causes, and they earn you little rewards as well, in the form of tax deductions. Uncle Sam gives the paw to several different kinds of nonprofits - educational, religious, charitable, social...
A Tax Nightmare
Crave the thrill of scaring yourself silly for Halloween seasons to come? Why wait? Start today on the path to financial doom and destruction! First, get yourself in the right frame of mind. Convince yourself that your measly annual cash flow will never be noticed...
Unpaid Taxes Could Mean Prison
A well-known couple from Klawock, Alaska, have both been sentenced to 12 months in Juneau’s federal prison for failing to pay federal taxes incurred for income derived from commercial fishing. In May 2018, Roseann Demmert, and Archie Demmert III settled on a plea...
Filing an Extended Tax Return
What happens when I play the Procrastination Game with Uncle Sam? The Procrastination Game goes like this: Uncle Sam tosses me a date when a tax filing is due. It doesn’t matter if Uncle Sam’s aim seems a bit off. I’m supposed to fetch the relevant tax form, fill...
What Is a Form W-4?
IRS Form W-4 is used to report to an employer the number of allowances a taxpayer claims on his or her tax individual tax return. As a general rule, each employer should have all new employees fill out and submit a W-4 Form upon hiring. Why is the W-4 so important?...
Offshore Voluntary Disclosure Program
Offshore Voluntary Disclosure Program, also known as OVDP, is a program designed specifically for taxpayers who wish to voluntarily disclosure their foreign assets or investments to the IRS. Originally, OVDP was designed to help aid taxpayers with exposure to foreign...