Divorce Monday and The New Tax Law 2019

Divorce and the new tax law 2019

Today is known as Divorce Monday, according to a recent survey by the law firm Irwin Mitchell Solicitors, which found that divorce filings jump by nearly one-third following the holidays. Alimony paid will no longer be tax-deductible and alimony received will no longer be taxable income. For decades, alimony — typically paid by men —…

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Taxpayers should check out these helpful tax tools

IRS Tax Tip 2018-139, September 6, 2018 Questions about taxes could come up any time of the year. Whether it’s about tracking a refund or paying a bill, taxpayers can find answers to their questions on IRS.gov. Here are some of the most popular IRS tools: IRS Free File. Taxpayers who filed an extension can use IRS…

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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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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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Tax Planning Services in Ellisville, MO

You may be asking yourself why should I choose Capital Advisory Group? We are focused on delivering quality services to the growing population of small businesses and residents in the area. Capital Advisory Group is a highly trained and experienced team of tax professionals specializing in a wide range of services. We are proud to…

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