The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended. This comes to less than 4 percent, but that projection still affects a significant number of taxpayers. Filing an amended tax return can be a hassle that you definitely […]
Very few people think that starting a new business is easy. But at the same time, there are few first-time entrepreneurs who realize just how involved things are from the moment you start trying to bring that idea that previously only existed in your head into the real world. There’s a massive amount of commitment […]
https://tarlow.com/wp-content/uploads/2016/05/logo.png00Michelle Folsterhttps://tarlow.com/wp-content/uploads/2016/05/logo.pngMichelle Folster2018-10-15 15:58:272018-10-15 16:16:50The Key Steps to Take BEFORE You Start a New Business
Taxpayers with disabilities may qualify for a number of tax credits and other tax benefits. Parents of children with disabilities may also qualify. Listed below are several tax credits and other benefits that are available if you or someone else listed on your federal tax return is disabled. Increased Standard Deduction – Tax reform substantially […]
As part of its recent tax reform, Congress included a new 20% deduction of pass-through income for trades or businesses other than C-corporations. This pass-through income is referred to as qualified business income (QBI); for trades or businesses, it generally includes bottom-line profits, and for S-corporations and partnerships, it includes K-1 flow-through income. This new […]
https://tarlow.com/wp-content/uploads/2016/05/logo.png00Michelle Folsterhttps://tarlow.com/wp-content/uploads/2016/05/logo.pngMichelle Folster2018-10-15 15:28:072018-10-15 15:43:12Do You Own a Specified Service Trade or Business? If So, Your 20% Pass-Through Tax Deduction May Be Limited
Five Reasons to Amend a Previously Filed Tax Return
/in Tax Filing, Tax Tips /by Michelle FolsterThe most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended. This comes to less than 4 percent, but that projection still affects a significant number of taxpayers. Filing an amended tax return can be a hassle that you definitely […]
The Key Steps to Take BEFORE You Start a New Business
/in Business Planning, Business Startup /by Michelle FolsterVery few people think that starting a new business is easy. But at the same time, there are few first-time entrepreneurs who realize just how involved things are from the moment you start trying to bring that idea that previously only existed in your head into the real world. There’s a massive amount of commitment […]
Disabled Taxpayer Tax Benefits
/in Child Care Credit, Deductions, Tax Planning /by Michelle FolsterTaxpayers with disabilities may qualify for a number of tax credits and other tax benefits. Parents of children with disabilities may also qualify. Listed below are several tax credits and other benefits that are available if you or someone else listed on your federal tax return is disabled. Increased Standard Deduction – Tax reform substantially […]
Do You Own a Specified Service Trade or Business? If So, Your 20% Pass-Through Tax Deduction May Be Limited
/in Business Tax, Deductions, Tax Reform /by Michelle FolsterAs part of its recent tax reform, Congress included a new 20% deduction of pass-through income for trades or businesses other than C-corporations. This pass-through income is referred to as qualified business income (QBI); for trades or businesses, it generally includes bottom-line profits, and for S-corporations and partnerships, it includes K-1 flow-through income. This new […]