by PTF | May 10, 2021 | Tax Preparation, Individuals, Planning Services
Consequences of Filing Married Separately Article Highlights: Changing Filing Status Liability Community Property States Social Security Benefits Capital Loss Limitations Sec 179 Business Expensing Election Rental Loss Limitation Traditional IRA Contributions Roth IRA...
by PTF | May 7, 2021 | Business Services, Tax Preparation
Running a Trading Business – and What it Means for Your Taxes The average American taxpayer is not aware that people who officially qualify as running a trading business receive special tax treatment. Their income comes from the profit they make by trading options,...
by PTF | May 6, 2021 | Tax Preparation, Announcements
The Tax-Filing Deadline Is Around the Corner Article Highlights: Extensions Balance-Due Payments Contributions to Roth or Traditional IRAs Individual Refund Claims for the 2017 Tax Year Missing Information As a reminder to those who have not yet filed their 2020 tax...
by PTF | May 2, 2021 | Tax Preparation, Announcements
Refund Statute Expiring: Don’t Miss Out! Article Highlights: The refund statute expires on May 17, 2021 for unfiled 2017 returns. Unfiled returns will lose out on refundable credits. Refunds may be offset by unpaid child support, past due student loans, and back...
by PTF | Apr 25, 2021 | Tax Preparation, Resource
Don’t Overlook Foreign Account Reporting Requirements Article Summary: Foreign Account Reporting Requirement Financial Crimes Enforcement Network Penalties for Failure to File Type of Accounts Affected Form 8938 Filing Requirements Some of the largest penalties for...
by PTF | Apr 23, 2021 | Business Services, Planning Services, Tax Preparation
Writing Off Your Business Start-Up Expenses Article Highlights: $5,000 First-year Start-up and Organizational Expense Write-off Timely Filing Requirements Qualifying Start-up Expenses Trade or Business Purchase Qualifying Organizational Expenses Expense Write-off...
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