Do you gamble online at a casino located overseas? Do you have relatives in a foreign country who put your name on their bank account in case of emergency? You may have an FBAR requirement and not even realize it!!
Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax, and reduce the amount of taxes your estate may owe when you die.
This chart provides a side-by-side comparison of the two front-running presidential candidates’ tax plans for the future. However, there is no assurance these plans won’t be revised or that they will have eventual Congressional backing.
Tax Consultants from Henssler CPAs & Advisers join the show, taking a deep dive into the tax platforms of Democratic nominee Biden and incumbent Trump for the presidential election.
Own a business? If you pay an independent contractor $600 or more for the calendar year, you are required to issue a Form 1099-NEC soon after the end of the year to avoid penalties.
If you could not complete your 2019 tax return by the extended July 15 deadline and filed a request for additional time, that extension expires on October 15, 2020.
We explain how the payroll tax deferral could affect your business.
If you are thinking about refinancing your current home loan, consider the tax ramifications before making your decision, as the 2018 tax reform made some changes that may impact it.
If your child received Social Security, Supplemental Security Income, Department of Veterans Affairs or Railroad Retirement Board benefits and did not file a tax return for 2018 or 2019, they may be eligible for an Economic Impact payment.
With the July 15 tax filing deadline behind us, it’s time to start thinking about your 2020 taxes.
