Back-To-School Time Means A Tax Break for Teachers
When teachers are setting up their classrooms for the new school year, it is common for them to pay for a portion of their classroom supplies out of pocket. A
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Category: Tax
September 17
Individuals: If you are not paying your 2018 income tax through withholding (or will not pay in enough tax during the year that way), pay the third installment of your
A Grain of SALT in New IRS Notice
Taxpayers who itemize deductions on Schedule A of their tax return have been able to deduct outlays for state and local income tax as well as property tax with no
Do You Need to Make an Estimated Tax Payment by September 17?
To avoid interest and penalties, you must make sufficient federal income tax payments long before your April filing deadline through withholding, estimated tax payments, or a combination of the two.
Choosing the Right Accounting Method for Tax Purposes
The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method, which is simpler than the accrual method, available to
Play Your Tax Cards Right with Gambling Wins & Losses
If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA)
August 10
Employers: For Social Security, Medicare, and withheld income tax, file IRS Form 941 for the second quarter of 2018. This due date applies only if you deposited the tax for
August 15
Employers: For Social Security, Medicare, withheld income tax, and non-payroll withholding, deposit the tax for payments in July if the monthly rule applies.
How the New Tax Law Affects 529 Plans
For many years, 529 college savings plans have offered a tax-favored way to save for higher education. These plans, officially qualified tuition programs, are named for the Internal Revenue code
Education as a Small-Business Fringe Benefit
The Tax Cuts and Jobs Act of 2017 dramatically reduced taxpayers’ ability to itemize deductions. Among the tax deduction opportunities that have vanished, from 2018–2025, are miscellaneous itemized deductions that