by The MDTAXES Network | Oct 1, 2019 | 2019 October Newsletter
Earlier this month, my firm hosted a live webinar in our Financial Boot Camp series titled “Game of Loans: Income Based Repayment Options vs Refinancing ” which was recorded and is now available online. According to the presenter Alex Oliver from First...
by The MDTAXES Network | Oct 1, 2019 | 2019 October Newsletter
Continuing a downward trend from the prior year, the IRS audited 7% fewer tax returns in 2018 than they audited in 2017. Of the 150 million personal tax returns filed for the 2017 tax year, only 892,000 were audited – a meager 0.59% of all personal tax returns...
by The MDTAXES Network | Oct 1, 2019 | 2019 October Newsletter
From IRS News IR-2019-159, September 26, 2019 WASHINGTON – The Internal Revenue Service today released a new set of tax gap estimates on tax years 2011, 2012 and 2013. The results show the nation’s tax compliance rate is substantially unchanged from prior...
by The MDTAXES Network | Oct 1, 2019 | 2019 October Newsletter
Month Income Taxes Saving and Investing OCTOBER Tax returns on extension due 10/15/19 Find out how to complete your W-4 form correctly using the IRS’ On-line Withholding Calculator Taxpayers on extension must fund retirement accounts by October 15th 5500s for...
by The MDTAXES Network | Sep 3, 2019 | 2019 September newsletter
by Andrew D. Schwartz CPA (Originally written for the September 2016 newsletter.) Last week, my wife and I dropped off our older child at college to start his freshman year. He is eager to spend the next four years taking classes in a variety of interesting subjects...
by The MDTAXES Network | Sep 3, 2019 | 2019 September newsletter, Uncategorized
WHEN: Thursday, Sept. 26, 2019 11:00 am – 12:00 pm (Pacific Price: FREE In a profession where many CPAs and accountants operate as generalists, specializing within a niche can provide a huge competitive advantage. Many firms have realized that the more focused...
by The MDTAXES Network | Sep 2, 2019 | 2019 September newsletter
by Richard S Schwartz CPA CVA If your tax situation may be changing this year as a result of receiving additional investment or consulting income that you were not expecting when you had met with your tax preparer last spring, you most likely will need to pay to the...
by The MDTAXES Network | Sep 2, 2019 | 2019 September newsletter
For 2018, the standard deduction for a single individual is $12,000 and for a married couple is $24,000. A person will benefit by itemizing once allowable deductions exceed the applicable standard deduction. Itemized deductions include state and local income taxes (or...
by The MDTAXES Network | Sep 2, 2019 | 2019 September newsletter
Month Income Taxes Saving and Investing SEPTEMBER 3rd quarter estimates due 9/16/19 “Calendar year” Corporate and Partnership tax returns on extension are due 9/16/19 SIMPLE/IRAs and Safe-Harbor 401k’s need to be set up by 10/1 Back to school – Read the monthly blog...
by The MDTAXES Network | Aug 1, 2019 | 2019 August newsletter
Did you file your tax return this spring and are still waiting for your refund? The IRS issues more than 9 out of 10 refunds in fewer than 21 days. However, it’s possible that some tax returns require further review and take longer to process. Some common...
