On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes. The Act included retroactively extending certain tax provisions that expired after 2017 or were about to expire. One of the exceptions added was a childbirth and adoption penalty. This article is one of …
Tax Planning
New Twist For Kiddie Tax With A Refund Opportunity
On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including retroactively extending certain tax provisions that expired after 2017. One of these changes is about how children are taxed on income – known as the Kiddie Tax. This article is one of …
Video Highlights Of Recent Tax Law Changes
It’s a great time to review the various changes that impact 2019 tax returns. Watch this video for details, or read our recent post about Tax Changes for 2020.
February 2020 Individual Due Dates
February 1 – Make Your Tax Appointment If you don’t already have an appointment scheduled with this office, please call us at (360) 778-2901 to make an appointment. February 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during January, you are …
Tax Planning Strategies for Small Business Owners This Year
Everyone needs a bit of planning to help with taxes. However tax planning strategies for small business owners can put you ahead of the game in a multitude of ways. If you are a small business owner, every penny of income counts. This means that you not only want to optimize your revenue, but also …
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February 2020 Business Due Dates
February 10 – Non-Payroll Taxes File Form 945 to report income tax withheld for 2019 on all non-payroll items. This due date applies only if you deposited the tax for the year in full and on time. February 10 – Social Security, Medicare and Withheld Income Tax File Form 941 for the fourth quarter of …
Tax Changes For 2020
A new year means a whole new set of tax laws to follow. Thankfully, many of these tax changes for 2020 can put more money in your pocket. The following article shares the most important tax changes for 2020 so you can make the best choices over the course of the year. This list details …
Congress Allowing Higher Medical Deductions For 2019 and 2020
On December 20, 2019, President Trump signed into law the Appropriations Act of 2020. The Act included a number of tax law changes, including allowing higher medical deductions for 2019 and 2020. In addition, the Appropriations Act of 2020 includes: extending certain tax provisions that expired after 2017, or were about to expire; retirement and …
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2020 Standard Mileage Rates Announced
The Internal Revenue Service (IRS) computes standard mileage rates for business, medical and moving each year, based on a number of factors, to determine the standard mileage rates for the following year. As it does annually around the end of the year, the IRS has announced the 2020 standard mileage rates. Thus, beginning on Jan. …
