Posts by comstlco-admin

Retirees with pension income should do a Paycheck Checkup ASAP

Retirees with pension income should do a Paycheck Checkup ASAP IRS Tax Reform Tax Tip 2018-143 September 13, 2018     Retirees should do a Paycheck Checkup to make sure they are paying enough tax during the year by using the Withholding Calculator, available on IRS.gov. The Tax Cuts and Jobs Act, enacted in December…

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Here’s how and when to pay estimated taxes

IRS Tax Reform Tax Tip 2018-140 September 10, 2018 Certain taxpayers must make estimated tax payments throughout the year. Taxpayers must generally pay at least 90 percent of their taxes throughout the year through withholding, estimated tax payments or a combination of the two. If they don’t, they may owe an estimated tax penalty.  …

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Three Fall Tax Tips for Small Business Owners

With the fall season closing in, it won’t be long before the end of the year is here. Rather than save all tax-related questions, concerns, and responsibilities for December and January, now is the time to review your situation. Below are three fall tax tips for small business owners to consider and ask their tax professional about:…

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5 Essential Tips for Missouri’s Tax Free Weekend

Missouri Tax-Free Weekend

5 Essential Tips for Missouri’s Tax-Free Weekend Tomorow starts Missouri’s Back-To-School Sales Tax Holiday weekend. This is a time to stock up get everything on your child’s back to school list. If you do not have kids in school or you may not be going back to school yourself this is a great opportunity to…

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Tax Cuts and Jobs Act Eliminates Write-Offs

The Tax Cuts and Jobs Act (TCJA) eliminates write-offs for miscellaneous itemized expenses that were previously subject to the 2%-of-adjusted-gross-income (AGI) deduction threshold. That meant your total miscellaneous expenses had to exceed 2% of AGI or you got no write-off. If they did exceed the threshold, you could only deduct the excess. Because most folks did…

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