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Educating-Clients-on-Optimizing-Their-Income-BracketThis year, millions of U.S. taxpayers will learn just how much of an impact the Tax Cuts and Jobs Act (TCJA) had on their income tax liability. But the change in tax brackets has highlighted a misunderstanding many taxpayers hold—that their highest tax bracket controls how all their income is taxed. Knowing how tax brackets work can drive dozens of different financial decisions, and today’s taxpayers can change their financial future just by optimizing the way their income is taxed

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Posted By Heather Morales

Tax Season Is Done Now What?

Apr 25, 2019 4:45:00 AM

Tax-Season-Winding-Down-Now-WhatMany tax professionals find themselves virtually strapped to their desks between Christmas and Easter, preparing returns for corporate and individual clients by the April 15th tax deadline. Now that this frenzied pace has slowed down a bit, it can be tough to regroup—but reflecting on what went wrong (and right) during the last tax season can better prepare you for the next one. Here are a few things you can (or should) do as you're winding down from the whirlwind that was the 2019 tax cycle

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Posted By Heather Morales

Tweaking Taxes for 2019 and Beyond

Apr 11, 2019 5:42:00 AM

Tweaking-Taxes-for-2019-and-BeyondFor many whose tax returns are fairly static from year to year, the changes brought by the Tax Cuts and Jobs Act (TCJA) threw a monkey wrench into things. Even for those who will ultimately pay less in taxes for the 2018 tax year, the uncertainty as to how the TCJA will impact their total tax bill—and whether their 2018 withholdings were correct—can be stressful.

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Posted By Heather Morales

Tax Extensions Save Clients Money

Apr 4, 2019 6:13:00 AM

Tax-Extensions-Save-Clients-MoneyFor many tax preparers, April 15 seems to roll around earlier each year. But when clients seem set to owe the IRS money at tax time, a tax preparer’s failure to timely request an extension can lead the taxpayer to incur a hefty failure-to-file penalty of 5 percent of the unpaid bill per month. See how you can save your client money. 

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Posted By Heather Morales

Two-US-States-Have-Tax-Day-On-April-17thIf you work as a tax preparer for individual clients, the date "April 15" is likely etched into your mind. But are you aware that—for two states—Tax Day 2019 falls on April 17 instead? Read on to learn more about the reasons behind this delayed tax due date for certain Northeasterners and how you can file for an extension if you need one.

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Posted By Heather Morales

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