President Trumps Most Recent Executive Actions

One of the most talked about of the four documents describes the deferral of payroll taxes otherwise known as the employment tax.  This tax is imposed under the Federal Insurance Contributions Act (FICA).  This tax has two components.  The 6.2% Social...

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:...