We are in the final stretch of 2019 and now is a good time to check your withholding estimator.  Grab your paystubs and other income documents from all income sources.  Grab your most recent documents on pensions, annuities, Social Security benefits and self-employment income, as well as 2018 tax return.  Go to irs.gov and check…

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December 2019 TAX TIP: It’s international Giving Tuesday!  If it matters to you, today is a great day to make your charitable donations to the causes you support.  You can save on your taxes and maximize your donation if you find a donation match.  Giving Tuesday is the day the people flex their generosity muscles,…

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The IRS just released guidance on the new business travel per diems that went into effect in October.  The guidance is issued to help clarify the definition of incidental expenses as: fees and tips given to porters, baggage carriers, hotel staff and staff on ships.  NOT included are Transportation between places of lodging, business and…

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Small business owners do everything from product design to janitorial work.  No wonder they sometimes struggle to keep up with recordkeeping.  Good records are vital to help business owners in the following: Monitor the progress of their business.  The decisions made daily in business can be instinctual or based on actual sales.  Those based on…

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For a Happier New Year, Gather and Organize your business tax documents now. Waiting until taxes are due will only create added stress and delays. The IRS in a series of reminders wants small business owners to gather their business tax documents early and organize them now. Need help? come see us at BusinessTaxPrep.org for…

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Planning to figure your taxes after the new year?  Why wait?  In the first of a series of tax filing reminders, the IRS urges individual taxpayers to use the Tax Withholding Estimator to find out whether more should be withheld or worse, how much will be due when the tax return is filed. If you…

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File on time, every time.  This is actually a good tax tip for every US Taxpayer: File your tax return by April 15.  If you don’t owe US taxes on your foreign income, the IRS extends that deadline by two months, June 15.  You may apply for additional extensions through October 15, but you may…

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In a celebration of the international day of sign languages, IRS ASL Channel on YouTube featured several tax topics: Tax Tips – videos on general tax topics – meant to help people understand their tax responsibilities ID Theft – as taxpayers and their returns becomes a major target for identity thieves, the IRS provides videos…

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Expatriate taxpayers may need to be aware of tax consequences in multiple nations.  When the rules in those nations change, following them becomes more complicated.  Recently the United States’ Internal Revenue Service came out with guidance forms and instructions for provisions of the Tax Cuts and Jobs Act under the name Global Intangible Low-Taxed Income,…

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