Justin Smith CPAFeb 1, 20213 minTax Season Kicks OffThe 2017 Tax Cuts & Jobs Act (TCJA) is still in effect for 2020 returns, but a flurry of legislation will make your tax returns a little...
Justin Smith CPANov 29, 20203 minIt’s time for year-end tax planningWith 2020 nearly over, it is time to prepare for filing your taxes and consider several items to prepare for the upcoming filing season....
Justin Smith CPAApr 30, 20203 minGet your federal stimulus and your PPP loan forgivenThe Internal Revenue Services has issued more than 88 million Economic Impact Payments (EIP) totaling approximately $158 billion since it...
Justin Smith CPAApr 30, 20202 minSmall Businesses Count on the Paycheck Protection ProgramThe Small Business Administration (SBA) announced last week that it had exhausted its $349 billion authorization for the Payroll...
Justin Smith CPAApr 30, 20203 minWhat to do if you have a tax billMost taxpayers know by now the Internal Revenue Service has provided an automatic filing and payment extension to July 15 for this year....
Justin Smith CPAFeb 24, 20202 minTax Code Favors HomeownersThe real estate market continues to be incredibly hot, with Lee County placing 2nd only behind Baldwin County for the fastest growing...
Justin Smith CPAFeb 24, 20202 minKey Documents to Maximize your 2019 RefundThe 2020 tax filing season has opened! The Internal Revenue Service expects more than 150 million returns will be filed this year, and...
Justin Smith CPAFeb 24, 20203 minKey Tax Deductions for This Year's ReturnsThe 2019 standard deduction increased to $12,200 for single filers, $18,350 for heads of household and $24,400 for married filers. The...
Justin Smith CPAFeb 24, 20202 minTax Credits Boost Your RefundTax credits are different, and often more valuable, than tax deductions because they are actual reductions in your income tax due. For...
Justin Smith CPAJan 29, 20202 minIndividual mandate is gone; the new deal with Form W-4The 2017 Tax Cuts & Jobs Act repealed the penalty for not having medical insurance all year (the “individual mandate”), but it did not go...
Justin Smith CPAJan 15, 20203 minYour child should invest in a Roth IRAParents desire to leave their children better off than they were themselves. That simple wish has long been part of the American dream....
Justin Smith CPADec 7, 20192 minYear End Tax Planning Tips and InformationWith 2019 nearly over, it’s time to prepare for filing your taxes. Let’s look at a number of tax tips that you should keep in mind before...
Justin Smith CPAApr 1, 20192 minHow you should handle large tax billsNo one likes to hear they have a large tax bill due at the end of the year. As an accountant, I do not look forward to communicating...
Justin Smith CPAApr 1, 20192 minHow will you spend your tax refund?The Internal Revenue Service reported that 67.7 million individual tax returns have been filed through March 8. Of those, approximately...
Justin Smith CPAMar 17, 20192 minTax considerations for landlords and homeownersMore and more people are finally selling their formerly underwater rental homes or upgrading to their dream forever home as the economy...
Justin Smith CPAFeb 16, 20192 minBring these files when you are ready to complete your taxesTax season is now underway, and most people know the fastest method to obtain your tax refund is to e-file with direct deposit. However,...
Justin Smith CPAFeb 9, 20192 minTCJA Changes Form 1040 and your 2018 Tax ReturnThe sweeping changes from the 2017 Tax Cuts And Jobs Act (TCJA) is only now affecting many taxpayers’ returns. While rates were reduced...
Justin Smith CPAFeb 3, 20192 minTCJA Changes Form 1040 and your 2018 Tax ReturnThe sweeping changes from the 2017 Tax Cuts And Jobs Act (TCJA) is only now affecting many taxpayers’ returns. While rates were reduced...
Justin Smith CPAJan 26, 20192 minCrucial tax deductions for 2019The 2017 Tax Cuts & Jobs Act (TCJA) nearly doubled the standard deduction to $12,000 for single filers, $18,000 for heads of household...
Justin Smith CPAJan 15, 20192 minEnhanced Tax Credits and Rates Turbocharge your refundThe 2017 Tax Cuts & Jobs Act is rightly referred to as a tax cut instead of tax reform. Federal tax laws have been changed significantly,...