The Tax Cuts and Jobs Act—Individual Tax Rates
You’ve probably noticed that every media outlet has been offering endlessly opposing opinions about the Tax Cuts and Jobs Act (TCJA). That’s because it’s complicated. So we’re starting today with a multi-part series examining specific provisions of the new tax bill and what they will mean for you. PART 1 The fact is, it’s impossible…
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State and Local Taxes—Changing Limitations into Opportunities
The recently passed Tax Cuts and Jobs Act (TCJA) limits certain deductions, but there’s a way to transform limitations into opportunities that make a lasting difference. By now you know that the TCJA places a limitation on the deduction for taxes paid at the state and local level. Beginning in 2018, the aggregate deduction is…
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Tax Reform – Moves to Make Before December 31st
The final bill titled Tax Cuts and Jobs Acts (TCJA) is expected to be signed by the President before the Holiday recess. Fortunately, most of the substantial changes apply to years beginning in 2018. However, consider the following before the end of 2017: State and local tax deduction. Deductions – state, local, and real estate…
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Happy Holidays!
Tax Reform Bill Key Points
With the House releasing a comprehensive 429-page tax reform bill last week, many people are curious as to how the proposed tax bill will impact their personal taxes as well as their businesses. We have outlined some key details of the House plan below, but it is important to note that the Senate is working…
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How to Protect your Identity After a Breach
With the major data breach that just took place with Equifax, many people are on high alert regarding their personal information and credit reports. If you are worried or concerned about protecting your personal information, you can place a fraud alert and/or a credit freeze on your credit report. Both of these options provide an…
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Equifax Breach – What To Do
We are sure you have heard about the breach at Equifax potentially affecting over 140 million people. If you have not done so already, we encourage you to check to see if your information has been compromised. Please go to the Equifax Credit Monitoring Enrollment link below and click “Begin Enrollment.” Equifax is offering credit monitoring for a…
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IRS Phishing Scheme
The IRS has published a warning against a new phishing scheme. This new email scam uses logos for both the IRS and the FBI and then asks you to click a link to fill out a questionnaire. Once you click the link, ransomware is downloaded to your computer. Please be aware that the IRS will…
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Unclaimed Property – Could Some Of It Be Yours?
Each year, unclaimed or abandoned assets are turned over to Alabama Unclaimed Property by financial institutions and businesses that lose contact with the owners. Currently, there is more than $400 million in unclaimed funds being held by the State of Alabama. These assets may be in the form of cash, stocks, uncashed checks, utility deposits,…
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Where’s Your Refund?
If you have not received your refund, the IRS and state governments have tools to check the status – including mobile apps. You’ll need basic data like your social security number and the exact amount of anticipated refund. Where’s My Refund? Federal Federal – IRS2Go mobile app Alabama The IRS website updates only once per…
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