The Gig Economy

While many are not familiar with the term gig economy, most are familiar with some of its components.  These include ride sharing such as Uber or Lyft, and Airbnb.    In fact, according to the Federal Reserve, a full third of Americans are involved...

Tax Cuts and Jobs Act Deductions this Year

As we start the tax season, let’s look at what is on the table.  This is not an all-encompassing list and is a general discussion.  Each individual situation should be discussed with a tax expert.  Most individual taxpayers, especially those who have W2...

Where does the IRS Get Income Information

Have you ever wondered just where the IRS gets the information to conduct audits or go after taxpayers that may not have reported all their income?  Beyond that, what is reportable?  In my experience, I have had numerous taxpayers ask me these two questions,...

Latest Changes in the Tax Code

The President recently signed a spending bill. Contained in this bill were some very significant changes to the tax code that affect both personal and business returns and, in some situations, may justify an amended 2018 return.  Among these changes include:...

Year End Tax Planning

Welcome to December!  Where has 2019 gone?  Now is the time to start preparing for year end closing and the 2019 tax return.  Here are a few steps to take now to be prepared to meet your tax professional.   If you have competent accounting...

Latest Scam Report by the IRS

We always need to be on the lookout for scams.  We get hit by phone calls so often it is almost routine.  The IRS often alerts subscribers to their newsletters of the latest scam.  One scam on the rise involves gift cards.  These scammers are...