Mikey’s Blog

Comments and Information of interest to our clients.

Six Things to do before January 1st 2018

December 23, 2017 This week the President signed into law a new tax bill that will affect nearly every american taxpayer.   The majority of the tax law will change your 2018 and beyond tax filing. However, if your itemized deductions generally exceed the standard deduction for 2017, with a little planning, you could save money […]

Taxpayers Should Be Wary of Unsolicited Calls from the IRS

Issue Number:    IRS Tax Tip 2017-53 Inside This Issue Taxpayers Should Be Wary of Unsolicited Calls from the IRS Taxpayers who get an unexpected or unsolicited phone call from the IRS should be wary – it’s probably a scam. Phone calls continue to be one of the most common ways that thieves try to get taxpayers to […]

AP Story: How to find a good tax preparer

Tax preparers do a big chunk of America’s tax returns — more than 80 million a year, according to the IRS — but if you’re nervous about handing confidential information to someone in a largely unregulated field, you’re not alone. Here are some tips to help you find a good tax preparer and reduce the […]

35 Bizarre Things You Can Be Taxed On

35 Bizarre Things You Can Be Taxed On Lifted edited and rewritten from an article on the internet, By Carrie Kirby on 19 December 2016 Once the Yuletide log burns out and the New Year’s ball drops, it’s soon time for a less joyful annual tradition: Calculating how much money you owe the Internal Revenue […]

New Due Date: Partnerships & LLC’s (2 or more member)

IRS CHANGES DUE DATE FOR FILING PARTNERSHIP RETURNS (Including multi-member LLC’s) New for 2016, the due date for filing your Partnership (Form 1065) has been moved up to March 15th instead of April 15th.  This change affects not only partnerships, but also multi-member LLC’s. For 2015 and earlier partnership returns, the due date of the […]

NEW – IRS Changes 1099-MISC Filing Dates

2016 Form 1099-MISC Miscellaneous Income What’s New New filing date. Public Law 114-113, Division Q, section 201, requires Form 1099-MISC to be filed on or before January 31, 2017, when you are reporting nonemployee compensation payments in box 7. The new law only applies to Form 1099-MISC,  and only when there is an amount in […]