Tax Cuts and Jobs Act

Understanding the Consequences of the New Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act Eliminated Numerous Job Expense Deductions, Including the Deduction for Union Dues

Last year, union dues and other job-related expenses exceeding 2% of adjusted gross income (AGI) could still be deducted as miscellaneous deductions. However, for 2018 (and for the foreseeable future), those deductions have been eliminated. All work-related tools, supplies, clothing, union dues, and other work expenses are no longer deductible. The same is true for home office expenses and unreimbursed travel and mileage costs.

Thankfully, new proposed legislation might help combat the harmful aspects of the Trump Administration’s tax law and put more money in American worker’s pockets instead of the IRS’ coffers. Keep reading to learn more. Read more

Work Opportunity Tax Credit

The Work Opportunity Tax Credit Could Impact Your Bottom Line

Your business might be eligible for the Work Opportunity Tax Credit if you’ve hired people with histories that might have otherwise prevented them from securing gainful employment.

Keep reading to learn how the Work Opportunity Tax Credit (WOTC) incentivizes diverse hiring practices while also giving marginalized members of society and struggling individuals a chance at a new start. Read more

File Small Business Taxes Now to Avoid an Audit

Don’t Delay! File Small Business Taxes Now to Avoid an Audit

Now that tax season is back in full swing, small business owners need to file their taxes accurately, thoroughly, and on-time in order to avoid an audit or other penalties. In this post, we’ll examine how to do so expediently and without unnecessary stress. Read more

Call Center Scam Exposed

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It was bound to happen and I know at least in part, the American public is to due some thanks for aiding in this big bust. According to The Wall Street Journal, police raided a call center in India exposing more than 70 individuals posing as IRS agents and defrauding the American taxpayers of their hard earned dollars. These scam artists, located in the suburbs of Mumbai, seemed to locals to be working at your average call center. Unfortunately, their business was much more sinister than helpful.

Is this the end?
Probably not. Even though this is a big win for authorities, this could just be the tip of the iceberg. Be vigilant in protecting your personal information and continue to spread the word about this and similar scams. If we stay silent, more innocent people will fall victim to fraud.

If the scam continues:
Keep watch and warn family and friends. Share blogs like this on social media and by email. As I mentioned above, I believe the American public plays a valuable part in uncovering crimes like these. It is estimated that over 1 million complaints were made in regards to these scam calls.

injured-spouse-tax-relief

How do I get Innocent Spouse Relief from my joint tax returns?

The IRS has recently made updates to its Innocent Spouse rules. Now more taxpayers will be considered to receive Innocent Spouse Relief from their joint tax returns. When a married couple files a joint tax return they are both responsible for all taxes. In some instances one of the partners misrepresents their tax situation. This misrepresentation causes a tax debt for both parties. The debt could have occurred due to not reporting income, misrepresentation of key facts, under reporting, or under paying. Often time’s finances and marriage are difficult. For whatever reason one spouse neglects to inform the other about tax debt, and now the innocent party is on the hook. Well that’s not always the case. There is help out there. If there was a misrepresentation on your joint tax return that you were unaware of, you may be eligible for relief through an Innocent Spouse Program. Read more