Tax season 2019: overheard in the hallways

In one of the craziest, most surreal tax seasons I can ever remember, I thought it would be interesting to do another episode of Overheard in the Hallways. You know, things you have heard throughout the three months, with no context, that just make you laugh out loud. “I think it must all be taxable …

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Where’s my refund? Your CPA doesn’t know – check online

Where’s my refund? Are you asking yourself this question? We’re in the final days of tax season. Maybe your return is already in the hands of the IRS or maybe you’re waiting until the last minute. Either way, if you’re owed money, you want to know when it’s coming, right? You may be tempted to …

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Have you been billed for tax research?

How long is the tax code? Out of curiosity, a download of the current version (through November 29, 2018) is 6,499 pages. While it’s not all code provisions, that’s still too many! Then, there’s accompanying regulations that explain the code. In addition, the IRS publishes other guidance and court decisions to interpret various provisions. Even …

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5 Tips to determine if your Social Security is taxable

You may not realize the Social Security benefits you received in 2018 may be taxable. You should receive a Form SSA-1099 from the Social Security Administration which shows the total amount of your benefits. You can use this information to help determine if your benefits are taxable. Here are five tips from the IRS to …

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Are your frequent flyer miles taxable?

If you have traveled with a major airline recently or opened a new credit card, it’s very possible that you have received frequent flyer miles. While you were dreaming of where those miles might take you, you may not have stopped to ask whether those miles are taxable. Fortunately, frequent flyer miles are generally not …

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California implements Wayfair sales tax threshold

Recently the U.S. Supreme Court issued a landmark ruling in South Dakota v. Wayfair. This ruling opens the door for states to impose sales tax on internet retailers who sell into a state even if they have no property or employees in that state. Not surprisingly, other states have taken notice and are starting to …

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The IRS is getting social on Instagram

You can now get tax tips and helpful news from the IRS on Instagram. The agency just debuted its official Instagram account – IRSNews. Last year’s tax reform law brought many tax law changes that will affect virtually every taxpayer. The IRS Instagram account will share taxpayer-friendly information to help you better understand these changes …

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Section 199A: What if I have a QBI loss?

Tax filing season is in full swing. With the new 2018 tax changes, most taxpayers and business owners have questions about how their taxes will be affected.  One of the most talked about changes for small business owners is Section 199A Qualified Business Income (QBI) and the potential 20% QBI deduction. But what if now …

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Wait – what? My college life may be a fraud?

I woke up to a text from my youngest daughter on Wednesday morning (yes, I know it is tax season, but she is living on the East Coast and with Daylight Saving Time, so she is three hours ahead of me!) jokingly asking if I had purchased her way into the University of Arizona. After …

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Updated rules for substantiating charitable giving

Charitable giving is a great way to help organizations and causes near and dear to your heart and have the added benefit of being eligible for a tax deduction. While this is a great way to give to a good cause and lower your tax bill, there are several considerations to be aware of. The …

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