I recently attended a tax update webinar. Below are the highlights I’d like to share with you. Self-employed and others who are required to file estimated tax payments remember that the due date for the first and second quarter of […]
Want to take me to lunch? The IRS issued final regulations implementing provisions of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, that disallow a business deduction for most entertainment expenses. The regulations also clarify […]
Real estate agents can possibly achieve tax savings by electing to be taxed as a Subchapter S Corporation under the Internal Revenue code. A Subchapter S Corporation generally does not pay income tax. The earnings flow through to your personal […]
A real estate broker I worked with years ago had a simple way of keeping up with his estimated tax payments. Every year he would look at his tax return and divide his total taxes (income and self-employment tax this […]
Starting in January 2021, the IRS will expand the IP PIN voluntary opt-in program nationwide. The six-digit IP PIN provides additional protection against tax-related identity theft. How It Works Starting in January 2021, taxpayers may go to the IRS’ Get […]