WM. F. Horne | January 2019

31Jan2019: February 2019 Tax Due Dates

February 2019 Individual Due Dates February 11 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during January, you are required to report them to your employer on IRS Form 4070 no later than February 11. Your employer is required to

31Jan2019: IRS Giving a Break to Some Taxpayers Who Under-Prepaid Their 2018 Taxes

Article Highlights: Tax Reform Prepayments W-4 Safe Harbor Payments Penalty Waivers & Exceptions Mitigating the Penalty Taxpayers are required to pre-pay their taxes for any tax year through payroll withholding, estimated tax payments or a combination of the two. Employees and retirees generally accomplish this through withholding, and self-employed individuals and those with investment

28Jan2019: Rental Owners: Guidance Related to the Pass-Through Deduction

Article Highlights: 199A 20% Pass-Through Deduction Rental Safe Harbor Qualifications Books & Records 250 Hours Contemporaneous Record Triple Net Leases Vacation Home Rentals Double-Edged Sword Ever since tax reform was passed, over a year ago, taxpayers have been uncertain whether rental property will be classified as a trade or business for purposes of

17Jan2019: Getting the W-4 Right is Important

Article Highlights: W-4 Complications Working Spouse Adjusting Refund Other Income and Tax Issues As they do at the beginning of every year, employers will be requesting employees to complete the IRS Form W-4. Its purpose is to provide employers with the information they need to determine the amount of federal income taxes to

14Jan2019: Tax Time Is Around the Corner! Are You Ready?

Article Highlights: Time to gather your information for your tax appointment New for 2018 Choosing your alternatives Tips for pulling your information together Tax time is just around the corner, and if you are like most taxpayers, you are finding yourself with the ominous chore of pulling together the records for your tax appointment.

08Jan2019: Alimony Tax Changes for Divorce Decrees after 2018

Article Highlights: Pre-2019 Alimony Post-2018 Alimony Definition of Alimony Alimony and IRA Contributions State Treatment of Alimony Welcome to 2019 and a delayed provision of the tax reform, also known as the Tax Cuts and Jobs Act (TCJA). For divorce agreements entered into after December 31, 2018, or pre-existing agreements that are modified

01Jan2019: Happy New Year!

We would like to take this opportunity to thank you for your continued patronage of our firm and wish you and yours a very happy New Year. We look forward to working with you on the preparation of your 2018 returns this tax season. If you have questions related to income, deductions, credits, or

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