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
Continuing a downward trend from the past year, 2018 saw 7% fewer IRS audits of tax returns than the amount that were audited in 2017. 150 million personal tax returns filed for the 2017 tax year. Of that amount 892,000 were audited representing only 0.59% of all...
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...
by The MDTAXES Network | Aug 1, 2019 | 2019 August newsletter
Please join us on Friday September 27 for our annual financial and practice management summit. The event runs 11 am – 4 pm at cafe Escadrille in Burlington, MA. This year, we’re featuring tracks for two groups of healthcare professionals: For Mental Health...
by The MDTAXES Network | Aug 1, 2019 | 2019 August newsletter
2018 was the first year that incorporated the majority of the tax law changes resulting from the Tax Cuts and Jobs Act of 2017 (TCJA) enacted just prior to the end of 2017. While many taxpayers were very concerned with the loss of certain tax deductions that had...
by The MDTAXES Network | Aug 1, 2019 | 2019 August newsletter
From IRS News – Tax Reform Tip July 29, 2019 Taxpayers who have deducted the business use of their car on past tax returns should review whether or not they can still claim this deduction. Some taxpayers can. Some cannot. Here’s a breakdown of which taxpayers...
