“Individuals on the Brink:The TCJA Tax Shuffle Will Begin Soon” To get my complete articlewith all the details… Did you know that your tax bill could look drastically different pretty soon? The biggest tax overhaul in recent history is about to expire, and it will affect YOUR bottom line. The Tax Cuts and Jobs Act (TCJA) provisions are set to sunset in 2025, … [Read more...]
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Double Trouble: Disaster Strikes, Then You’re Hit with an IRS Audit
To get our complete, FREE articlewith all the details… Consider the following frightening scenario. Your office burns to the ground in a fire and you barely escape with your life. But did you also escape with your computer systems and paper records? I sure hope so. You see, if you don’t have backups of crucial documents, you could be in a world of trouble. Why? … [Read more...]
Tax reform hammers personal casualty loss deductions
Hurricanes. Floods. Wildfires. These and other disasters have sadly cost many lives and billions of dollars in property damage. If you have suffered property damage, we want to warn you that the Tax Cuts and Jobs Act placed a new limit on personal casualty loss deductions for the years 2018 to 2025. The changes in the law can have a huge impact on your ability to deduct … [Read more...]
What to do if your tax records are destroyed
If you lose your home or business to fire, flood, hurricane, earthquake or some other disaster, the last thing you’ll worry about is your tax records. Unfortunately, the IRS won’t cut you much slack if those records are destroyed. Uncle Sam will still say “Show me the money!” We sure hope you never face terrible losses like those mentioned above, but if you ever do, you’ll … [Read more...]