Preview of Postcard Tax Return

U.S. Department of the Treasury says, “Cutting red tape has been a core tenet of the Trump Administration’s economic policies.” The Tax Cuts and Jobs Act protects important benefits for both American families and businesses, while simplifying our tax code for…

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Posted: 07/05/2018

Tax reform allows people with disabilities to put more money into ABLE accounts, expands eligibility for Saver’s Credit

People with disabilities can now put more money into their tax-favored Achieving a Better Life Experience (ABLE) accounts and may, for the first time, qualify for the Saver’s Credit for low- and moderate-income workers, according to the Internal Revenue Service.…

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Posted: 06/21/2018

Gregory J. Cook, EA, CPA, Accredited Tax Advisor

SSA Provides Special Extra Earnings for Military Service

Since 1957, if you had military service earnings for active duty (including active duty for training), you paid Social Security taxes on those earnings. Since 1988, inactive duty service in the Armed Forces reserves (such as weekend drills) has also…

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Posted: 05/24/2018

IRS Issues Notice on State and Local Tax Deductions

The U.S. Department of the Treasury and the Internal Revenue Service issued a notice today stating that proposed regulations will be issued addressing the deductibility of state and local tax payments for federal income tax purposes. Notice 2018-54 also informs…

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Posted: 05/23/2018