by Jackie | Nov 22, 2017 | News and Updates
Giving Tuesday is an annual event celebrated the week after Thanksgiving to kick off the season of charitable giving. Taxpayers making donations may be able to deduct them on their tax return. As people are deciding where to make their donations, the IRS has a tool...
by Jackie | Nov 22, 2017 | News and Updates
From scrapbooking to glass blowing, many Americans enjoy hobbies that are also a source of income. A taxpayer must report income on their tax return even if it is made from a hobby. However, the rules for how to report the income and expenses depend on whether the...
by Jackie | Nov 16, 2017 | News and Updates
With the holidays around the corner, many people will be making donations to benefit charitable organizations. However, come tax time, the person who made the donation might also benefit. That’s because taxpayers who donate to a charity may be able to claim a...
by Jackie | Nov 14, 2017 | News and Updates
The IRS understands that taxpayers who owe money need choices on how they can make payments to the agency. IRS offers three easy ways to pay taxes. Taxpayers can pay online, by phone or with their mobile device using the IRS2Go app. Any time of the year is a good time...
by Jackie | Oct 18, 2017 | News and Updates
The Social Security Administration (SSA) announced on Friday that the maximum amount of wages in 2018 subject to the 6.2% Social Security tax (old age, survivor, and disability insurance) will rise from $127,200 to $128,700, an increase of a little more than 1%. By...
by Jackie | Sep 27, 2017 | News and Updates
Business travelers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses (Notice 2017-54). The new rates will be in effect from Oct. 1, 2017, to Sept. 30, 2018. The IRS on Tuesday provided the...