Taxes and Tariffs: The U.S. Response to France’s Digital Tax
Back in July of 2019, France passed what was dubbed a “digital tax” targeting the largest tech companies. Impacting approximately 30 big companies such as Amazon, Google, Facebook, and Apple…
When Should You Switch Your Side Hustle to a Business Entity Structure?
Starting a side hustle today is easier than ever. Between the numerous websites that act as marketplaces and project jobs that can be found on the internet, almost anyone can turn a skill or hobby they have into something they…
2020 Tax Brackets, Deductions, Plus More
Beginning on Jan. 1, 2020, the Internal Revenue Service (IRS) has new annual inflation adjustments for tax rates, brackets, deductions and retirement contribution limits. Note, the amounts…
How to Defer, Avoid Paying Capital Gains Tax on Stock Sales
The markets are hitting all-time highs, so if you are thinking of selling stocks now or in the near future, there is a good chance that you will have capital gains on the sale. If you’ve held the stocks for more…
Tax Changes 2019
With the start of the fourth quarter of 2019 underway, it’s time to see what the Internal Revenue Service (IRS) will expect of filers for their 2019 taxes. The following are a list of major changes that filers need to be aware of…
How to Get the IRS to Pre-Approve Your Taxes
It might seem odd, but it is possible to get the IRS to give you a straight-forward and binding answer to ambiguous tax positions in advance. How does this happen, you ask? The answer is through an IRS…
The Five Key IRS Rules of Taxation for Lawsuit Settlements
Coming out on the winning side of a lawsuit as a plaintiff can be a gratifying feeling, especially if there is a financial settlement involved. There is likely a sense of both relief and…
2017 vs. 2018 Federal Income Tax Brackets
The Tax Cuts and Jobs Act changed federal income tax rates, standard deductions and a long list of thresholds. The tables below set the 2018 figures against the 2017 ones they replaced, by filing status, along with FICA rates, education credits and the main miscellaneous provisions. Single Taxpayers 2018 — Standard Deduction $12,000 2017 — […]