Last year’s sweeping tax overhaul, the Tax Cuts and Jobs Act of 2017 (TCJA), introduced a new tax break for owners of many pass-through businesses.Read more >>
In the past 15 months, congress passed five bills that have substantive and significant tax provisions:
The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.
The Bipartisan Budget Act of 2015.
Tax problems often arise for many people, but fortunately, there are solutions available for every tax problem.
If you owe the IRS over $10,000 and cannot pay your balance in full, contact Joseph Rosio at Plano Tax Prep to discuss which one of these options is right for you and your family.Read more >>
Filing personal taxes in community property states as Married Filing Separately (MFS) can be complicated.
Certain states have laws about community property defining how they expect MFS couples to share, or allocate income.
If you are considered an independent contractor, you will get a 1099-MISC form from the company you provided services for – so long as the payments were at least $600 for the prior year.Read more >>
If you are an independent contractor or W-2 employee who uses your personal auto for business and you are NOT reimbursed by your employer (uncommon), you can deduct business mileage at the rate of 54 cents per mile on 2016 on your tax return.Read more >>
The official tax season has passed, but the year is really just getting started. 2016 brings us so many activities to look forward to like the summer Olympics and the much-talked-about presidential election.Read more >>
Any day after April 15th is ideally a great time to begin prep for next year’s personal tax returns. Doing so will help you cut down on the work and time required to complete your taxes in 2017.
Here are a few simple steps you can complete this year to make next year’s taxes process easier.Read more >>
Although personal income tax season is officially over, unless of course you filed for an automatic six-month extension, some people are still in need of tax help.Read more >>
Every year, millions of Americans relocate to another city or state. In fact, the United States Census Bureau reported that 1 in 9 people changed residences in 2014. That equates to more than 9 percent of the U.S. population relocating due to a new job or a job transfer.Read more >>