IRS Issues Warning About "Tax Transcripts" Email Scam
The IRS issued a warning about the latest tax scam. Recently, there has been a surge of fraudulent emails impersonating the IRS and using tax transcripts as bait to entice users to open documents containing malware. The scam involves a well-known malware, known as Emotet. Especially problematic for businesses, this malware can spread throughout the networks and potentially take months to successfully remove.
Cloud-based ERP Solutions are Available for Smaller Companies
Cloud-based Enterprise Resource Planning (ERP) solutions are changing the affordability and operability equations. By adopting an ERP system, your company can streamline operations with a single solution that lets you analyze, track and move resources efficiently in every area. This article explains some of the benefits of cloud-based ERP.
Repeal of Alimony Deduction May Have Unintended Consequences on Post Divorce Grantor Trusts
One of the provisions of The Tax Cut and Jobs Act that may impact many Americans is the new legislation that repealed the alimony deduction after 12/31/2018. Most people understand this provision as it relates to alimony, divorce, and the income taxation of same, but there is another potential impact of the Act that relates to divorce that people should be aware of.
Section 199A Deduction and Its Impact on Real Property Ownership
One of the most significant changes in The Tax Cuts and Jobs Act effecting income property owners is the newly created 199A deduction. Designed to reduce the effective tax rate on business taxable income, under the new Code Section 199A, there is a 20% deduction for qualified business income (QBI) from a pass-through entity (Partnerships & S-Corps). However, without proper planning, limitations may apply.
IRS Waives Estimated Tax Penalty for Many 2018 Filers
The IRS announced that it is “generally waiving the penalty for any taxpayer who timely paid at least 85 percent of their total tax liability during the year through federal income tax withholding, quarterly estimated tax payments or a combination of the two.” Usually tax payers who pay estimated tax, must pay at least 90 percent to avoid a penalty.
Microsoft’s Dynamics 365 Business Central’s power and technological capabilities are invaluable to small and midsized businesses (SMBs) looking for a scalable solution. It is a cloud-powered end-to-end solution that gives users an intuitive, ...
The Tax Cuts and Jobs Act, (The Act), has brought with it many changes that impact taxpayers to varying degrees. One of the provisions that will affect all Americans is the new tax brackets created by the legislation. There are currently seven federa ...
In the wake of lingering confusion over the extensive changes in the tax code and new tax forms related to the Tax Cuts and Jobs Act — and delays caused by the 35 day government shutdown, two house Democrats have introduced a bill that proposes ...