It’s never too early to start thinking about your next income tax return. For most taxpayers, that’ll be your return for the 2019 tax year–which, by the way, will be due on April 15, 2020. The 2019 tax rates themselves are the same as the tax rates in effect for the 2018 tax year: 10%, 12%, 22%, 24%, 32%, 35% …
IGNORANCE ISN’T BLISS when it comes to the U.S. tax code. Failing to fill out your tax return correctly, even if you make an honest mistake, isn’t going to earn you immediate forgiveness from the Internal Revenue Service. “When you sign your tax return, you’re signing it (to say) that everything is accurate and true,” says Mark Jaeger, director of tax development at …
Private sector employment increased by a robust 227,000 jobs in October, according to payroll giant ADP, but small businesses are having a difficult time finding qualified employees to fill the open slots. Small businesses nevertheless added 29,000 jobs in October, including 7,000 in businesses with between one and 19 employees, and 22,000 in businesses with between 20 and 49 employees. …
It’s the 11th hour and you’re slowly, but surely getting those 2017 taxes done. As you enter those W-2s and W-9s into your favorite tax prep software, you see it out of the corner of your eye: Your once destined-for-vacation tax refund is now squarely in the dreaded “taxes due” column. Suddenly, with just hours to spare, you find yourself …
As if tax forms were not already complicated, now you have to throw in the new healthcare laws. On your 2014 tax form you will have to indicate if you had healthcare for the full year. But that’s not all there is to do! You will be receiving forms in the mail in January and you will have to calculate …
Matthew Person, CPA Todd Wilson, CPA Person CPA Group 3200 Lake Villa DriveMetairie, LA 70002(504) 780-8299 Fax 1-800-799-1292www.personhuffcpa.com  New York Yankee shortstop and future Hall-of-Famer Derek Jeter has played his last Major League Baseball game. In his last game,he chopped a single to third in the third inning to drive in a run, then took himself out for good. That final …
People Who Live in Glass Houses Takisha McGee works (at least for now) as a Section Manager for the IRS Office of Professional Responsibility, where their mission is to “interpret and apply the standards of practice for tax professionals in a fair and equitable manner.” Among her other duties, she travels around the country teaching IRS officials and tax preparers …
Matthew Person, CPA Todd Wilson, CPA Person CPA Group 3200 Lake Villa Drive Metairie, LA 70002 (504) 780-8299 Fax 1-800-799-1292www.personcpa.com Berkshire Giveaway Someday, the financial wizards who run things on Wall Street will realize there’s “paper to be stacked” opening an Investor Hall of Fame. (Hey, the Rock and Roll Hall makes $40 million a year, and it’s in Cleveland.) And …
OCTOBER BUSINESS TAX DATES Oct 1- File Form 730 and pay tax on wagers accepted during August. File Form 2290 and pay the tax for vehicles first used during August. Oct 3- Deposit payroll tax for payments on Sep 26-28 if the semiweekly deposit rule applies. Oct 5- Deposit payroll tax for payments on Sep 29-Oct 2 if the semiweekly …
If your car is used for business purposes, whether you are self-employed or an employee, you can get the benefit of tax deductions. You have 2 choices for claiming deductions on a business car:  You can deduct the actual business-related costs of gas, oil, lubrication, repairs, tires, supplies, parking, tolls, drivers’ salaries, and depreciation.  Ã‚ Use the standard mileage …
