If you don’t receive a W-2 or 1099, is this a defense to protect yourself from not reporting the income during an audit? In short, the answer is no. You are required to report your…

Late on Friday, December 20th, a new 1,770 page bill was signed into law. Deep within the pages of the bill are a number of retroactive tax law changes to current and expired tax laws….

Long-established retirement account rules change. (Originally published on ASFinancialServices.com.) The Setting Every Community Up for Retirement Enhancement (SECURE) Act is now law. With it, comes some of the biggest changes to retirement savings law in…

There is a lot of confusion about home equity loans following the passage of the Tax Cuts and Jobs Act (TCJA). The act changes the rules on whether the interest on these loans is deductible….

There’s income and then there’s taxable income. With the IRS, it’s not always as straightforward as you’d like. Below are five commonly asked questions accountants are asked when it comes to taxability of income in…

The IRS recently announced key tax figures for 2020, using information based on the Consumer Price Index published by the Department of Labor. Use these early figures to start developing your tax strategies for next…

Wages and self-employment earnings are taxable, but what about the random cash or financial benefits you receive through other means? If something of value changes hands, you can bet the IRS considers a way to…

There are new requirements for landlords to qualify for the Section 199A deduction in 2019. First, if you use the property yourself a substantial part of the year and rent only occasionally, you cannot take…