Tax Warrior Chronicles

"Spring Forward" with a W-4 Check-up

Posted on Tue, Jun 04, 2019

By: Kelly Ha

 

Remember that government form called a W-4? It's usually part of a pile of other forms when starting a new job, and determines the amount of income taxes that your employer will withhold from your paycheck. This week, the IRS issued a draft of the new Form W-4, which reflects changes under the Tax Cuts and Jobs Act (TCJA).  Here's what you need to know...

Read More

Tax Rates and Brackets at Your Fingertips!

Posted on Mon, Feb 04, 2019

Memorizing the different tax brackets, rates, standard deduction amounts, etc., is near impossible for most. Unless you are an accountant, these numbers don’t come naturally. Truth be told, even we need to look up something every now and then. As a handout at our presentations, we’ve prepared a two-page 2017-2019 comparative federal tax sheet. It is extremely helpful to have at your fingertips to quickly find brackets, limits, rates, and exclusions of more common areas of the code. Keep it handy for when you or your client may need it.

Read More

Section 199A Aggregation Rules

Posted on Wed, Jan 30, 2019

By: Lana Goldina, CPA, and Dan Marques, CPA, MT

 

The infamous Section 199A, also known as “20% pass-through deduction,” is considered one of the most complex areas of the Tax Cuts and Jobs Act of 2017. On Friday, January 18, the IRS issued final regulations on parts of the law. Among the many issues and questions needing clarification under Section 199A is how you can elect to aggregate your trades or businesses to potentially maximize the qualified business income (“QBI”) deduction.

Read More

Simplified Tax Form May Not Be A Reality

Posted on Tue, Jan 22, 2019

By: Michael Weiner

 

One of the major goals of the Tax Cuts and Jobs Act of  2017 (“TCJA”) was to simplify the tax law so the average American can more easily file their federal taxes. The tax code has always had a bad reputation for being too long and too confusing. But, the TCJA’s attempt to make the tax code more approachable and comprehendible seems to be counterproductive.

Read More

Jump Start Your Tax Filing – Do I Owe?

Posted on Thu, Jan 10, 2019

By: Stacie Court, CPA, MST

 

2019 is here and the tax filing season is right around the corner (can you believe it?).  Numerous changes to the tax code have taken affect for 2018 returns and the big question on everyone’s mind is, “Will I have a balance due in April?”  We’re here to help you get a jump start on gathering your tax documents, become aware of changes that may impact your tax liability and help you answer that dreaded question as soon as possible so you can plan accordingly.    

Read More

New Tax Law Challenges Present Opportunity for Scams

Posted on Fri, Jan 04, 2019

By: Eric R. Elmore

 

It’s been a full year since the Tax Cuts and Jobs Act of 2017 was passed. And, while the IRS and tax professionals continue to dissect it, scam artists are busy plotting to take advantage of the confusion to steal your money and identity. Today, we’ll discuss a few of their go-to scams and some new ones that have surfaced. Let's get at it!

Read More

Your Foreign Interests and the U.S. Tax Law

Posted on Fri, Dec 14, 2018

By: Patrick McCormick, JD, LLM

Read More

The New Tax Law: 2018 Year-End Planning Tips for Individuals

Posted on Mon, Dec 03, 2018

By: Tiffany Diaz, CPA

 

Last week, we shared our top year-end planning tips for businesses. We hope you found the ideas useful. There was much ado about the Tax Cuts and Jobs Act of 2017 (TCJA) over the past 12 months.  But, now it’s crunch time and on January 1, the rubber meets the road. So, with today’s blog, we share our top year-end planning tips for individual filers.

Read More

Upcoming Tax Warrior Events – TCJA Update and Opportunity Zones

Posted on Thu, Nov 29, 2018

By: Drucker & Scaccetti

 

The Tax Warriors® at Drucker & Scaccetti have developed a good working relationship with PIDC (Philadelphia Industrial Development Corporation), a leading support and growth organization for the City’s businesses, big and small. Through PIDC, we educate business owners and help them sustain and grow their wealth through Tax As A Business Strategy®.  Here are two free December events by PIDC featuring Tax Warriors as educators that you can attend!  Links are provided for more information and to register. 

Read More

The New Tax Law: 2018 Year-End Planning Tips for Businesses

Posted on Wed, Nov 28, 2018

By: Joseph Brunell, CPA

 

The Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017, and became effective on January 1, 2018.   For many businesses, the TCJA provides benefits such as reduced corporate tax rates, removing the corporate alternative minimum tax, and a new pass-through business income deduction.  However, many tax planning ideas go beyond the big-ticket items.  The Tax Warriors® at Drucker & Scaccetti are here to provide some of the top year-end tax planning tips.

Read More