by Terri McLain | Aug 28, 2019 | Personal
The IRS W-4 form (Employee Withholding Allowance Certificate) is the form employees fill out and give to their employers. From that information, employers calculate the amount of money to withhold from your paycheck for taxes. If too little is held out, you could owe...
by Terri McLain | Aug 13, 2019 | Personal
IRS postcards for filing your 2019 Form 1040 tax returns in 2020 seemed almost friendly and might have conjured up some old memories of the 1960s-era Short Forms. Sorry, folks, that just isn’t happening. No IRS postcards for 2019 tax returns The IRS won’t be...
by Terri McLain | Jul 30, 2019 | Personal
Taxpayers turning 65 years of age in 2019 will have the option to use the new 1040-SR tax form when filing their 2019 taxes in 2020. The new form is provided for in section 41106 of the Bipartisan Budget Act of 2018 (BBA), a two-year budget agreement passed by...
by Terri McLain | Jul 16, 2019 | Business
The Section 179 Tax Deduction benefits were raised by the Tax Cuts and Jobs Act of 2017 effective tax years beginning January 1, 2018. Section 179 tax benefits can change or be discontinued at any time, without notice, and should be considered a catch-it-now...
by Terri McLain | Jun 17, 2019 | Retirement
Your approach to retirement planning is as individual and unique as you are right now. When you begin making financial plans for retirement, whatever your age, it’s human nature to zero in on obstacles and get tangled up with details. Let’s look at some challenges you...
