CURRENT TAX TOPICS
Each year the IRS warns taxpayers of scams, many of which happen long after the tax season is over. Some taxpayers have encountered scammers who impersonate IRS officials in person, over the phone, or via email. Here are some ways for you to identify a real IRS employee.
In the quest to reduce your tax bill, year-end planning can only go so far. Tax-saving strategies take time to implement, so review your options now. Here are three strategies that can be more effective if you begin executing them midyear:
In 2015, Congress passed the “Protecting Americans from Tax Hikes Act of 2015″ (PATH Act) which provided greater certainty to business owners as to the deductions available to them. Some portions were made permanent while others had certain phase outs and time limits.
Now is the time to get acquainted with some of the changes that will affect 2017 taxes, filed in early 2018. The changes will affect income calculations, deductions and exemptions, ultimately impacting how much many individuals and families will see after filing this year’s taxes.
Moving can be expensive. The good news is that you might be eligible for a federal tax deduction for your moving costs.
How does this effect your tax return?