by Leif Jensen | Mar 20, 2018 | General |
The Senate amendment to the “Tax Cuts and Jobs Act 2017” directs the Secretary of the Treasury to promulgate due diligence requirements for paid preparers in determining eligibility for a tax payer to file as head of household. So we are now again put in the...
by Leif Jensen | Mar 19, 2018 | General |
The Democrats are hoping that net neutrality will drive young voters to the polls this fall in their favor. Many are upset by the overturn on net neutrality barring telecoms from charging more for faster internet speeds or controlling content. The party...
by Leif Jensen | Mar 14, 2018 | General |
Some refunds will be held up by the IRS. Filers who are claiming the earned income tax credit as well as taxpayers claiming the refundable child tax credit will have to wait until Feb. 27 before their refunds are deposited into their bank accounts. And...
by Leif Jensen | Mar 13, 2018 | General |
Retaining too much control over a company costs an inventor a tax benefit. The Royalties he got from patent transfers do not qualify for capital gains treatment. Inventors who sell to an unrelated person their entire interest in a patent they created before commercial...
by Leif Jensen | Mar 12, 2018 | General |
The $10,000 cap on deducting state and local taxes is causing chaos. In an attempt to beat the deduction crackdown coming in 2018, many homeowners rushed out January to prepay 2018 property tax liabilities, in the belief they could deduct them on 2017 returns,...
by Leif Jensen | Mar 7, 2018 | General |
Do you need or want to apply for or renew a passport? Then you need to make sure that your taxes are paid up and current. The State Department can deny and has revoked U.S. passports of individuals with federal tax debts in excess of $51,000 and on whom...
