How President Trump’s Executive Order Affects Payroll Taxes for Employees
On August 8, 2020, President Trump signed an executive order to defer certain payroll tax obligations to provide…
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August 10, 2020
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June 23, 2020
Paying Too Much in Taxes? Here are Common Expense Deductions Startups Miss
Many profitable companies, including startups, are paying more in taxes than they should solely because they are not…
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April 14, 2020
IRS Defers Employment Tax Deposits and Payments Through 2020
The IRS recently released guidance on the CARES Act employment tax deposit deferral. Below are the highlights of…
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March 20, 2020
IRS Extends Federal Tax Filing Deadline to July 15 in Response to COVID-19
The IRS has officially extended the federal income tax filing and payment deadline from April 15 to July…
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March 10, 2020
Protect Yourself Against Tax-Related Identity Theft with a New Tool from the IRS
It’s crunch time for filing individual tax returns, which means tax-related identity theft is on the rise. Each…
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March 10, 2020
Protect Yourself Against Tax-Related Identity Theft with a New Tool from the IRS
It’s crunch time for filing individual tax returns, which means tax-related identity theft is on the rise. Each…
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February 11, 2020
Overcoming Obstacles for Utilizing the QBI Deduction
As we enter year three of the qualified business income (QBI) era, if you have not yet taken…
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February 4, 2020
2020 Payroll Tax and Withholdings Update
In 2020, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k)…
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January 21, 2020
2020 Tax Pocket Guide
Access the 2020 Anders Tax Pocket Guide for this year’s corporate and individual tax rates, retirement plan contribution limits…
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November 14, 2019
Missouri Announces Individual Income Tax Changes for 2019 Tax Returns
The Missouri Department of Revenue has announced the 2019 individual income tax year changes, effective for the tax…
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October 29, 2019
You May Be Able to Claim the 45L Tax Credit Retroactively Thanks to the New Home Energy Efficiency Act
The House signed the bill earlier this week and now the Senate has approved for the 45L tax…
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October 8, 2019
How to Give and Get Back with Tax-Advantaged Charitable Giving Following Tax Reform
Many more taxpayers are now taking the standard deduction as a result of the Tax Cuts and Jobs…
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September 6, 2019
New Phone Scam Impersonating the Social Security Administration
The IRS has issued a consumer alert regarding a new phone scam in which a recording pretends to…
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September 3, 2019
Top Mistakes to Avoid to Maximize the QBI Deduction
The 20% Qualified Business Income (QBI) deduction was arguably the most complicated change taxpayers faced during the 2019…
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June 20, 2019
How the Business Interest Expense Deduction Could Create a Larger Tax Liability for Your Company
The new business interest expense deduction is one of the Tax Cuts and Jobs Act (TCJA) changes that…
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April 9, 2019
Tax Reform for Individuals: Repealing the Overall Itemized Deduction Pease Limitation
The Pease Limitation previously put a cap on how much wealthy individuals could claim for certain itemized deductions…
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March 28, 2019
Tax Reform for Individuals: Changes in Deducting Gambling Losses
Professional gamblers and hobby gamblers are now on the same playing field in the eyes of the IRS.…
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March 12, 2019
Tax Reform for Individuals: Qualified Charitable Distributions
The tax benefits of donating to your favorite charity have changed under the Tax Cuts and Jobs Act…
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February 28, 2019
Tax Reform: Excess Business Losses
Pass-through business owners historically were able to deduct excess business losses, allowing them to reinvest that money into…
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February 19, 2019
Tax Reform for Individuals: Roth Recharacterizations
Converting a traditional IRA to a Roth IRA may make sense for your retirement strategy depending on your…
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February 14, 2019
Tax Reform for Individuals: Standard Deduction and Personal Exemption Changes
If you’re used to itemizing deductions for expenses such as mortgage interest, state and local income tax and…
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February 12, 2019
Tax Reform for Individuals: Net Operating Losses (NOL)
A net operating loss, or more commonly known as a NOL, is a loss that has occurred in…
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February 6, 2019
Does Your Rental Real Estate Qualify for the 20% QBI Deduction?
One of the most talked about components of the Tax Cuts and Jobs Act (TCJA), the 20% Qualified…
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February 5, 2019
Tax Reform May Bring Bigger Tax Liability for Athletes
With a large salary comes a large tax liability for athletes, and that could be going up following…
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February 4, 2019
2019 Retirement Plan Contribution Limits for Individuals
The IRS has adjusted dollar limits for employer-sponsored retirement and welfare plans, as well as for individual retirement…
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January 29, 2019
States Changing Tax Rates Due to the Tax Cuts and Jobs Act
The corporate and individual federal tax rates changed under the Tax Cuts and Jobs Act (TCJA), and now…
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January 24, 2019
How the Government Shutdown Could Impact Your Tax Return
The first filing season under the Tax Cuts and Jobs Act (TCJA) set to begin Monday, January 28…
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January 18, 2019
2019 Withholdings for Social Security, Medicare and Pensions
Part 3 of the Anders Annual Payroll and Withholding Update outlines social security tax withholding, additional Medicare tax…
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January 15, 2019
Tax Reform: State Depreciation Changes
Building owners and lessees will be impacted by several changes made to depreciation rules under the Tax Cuts…
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January 7, 2019
Tax Reform for Businesses: Cash vs. Accrual Method of Accounting
Many small businesses are rethinking their current method of accounting due to the Tax Cuts and Jobs Act…
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December 26, 2018
Tax Reform for Individuals: Child Tax Credit Changes
Parents and taxpayers with dependent children can take advantage of the increased benefits of the Child Tax Credit…
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December 20, 2018
2018 Year-End Tax Planning Strategies
The Tax Cuts and Jobs Act that was enacted last December topples conventional tax planning strategies and changes…
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December 6, 2018
Requirements for Filing Form 1099-Misc
A Form 1099-Misc reports certain types of income, other than salary, that aren’t filed on a W-2. If…
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December 4, 2018
Switching CPA Firms: How to Move on to the Service You Deserve
People often fret about changing CPAs or professional service providers because change alone can bring forth fear, anxiety…
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November 27, 2018
States Resisting Updated Federal Estate Tax Exemption Following Tax Reform
One of the many Tax Cuts and Jobs Act (TCJA) changes adopted when filing 2018 taxes is the…
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November 13, 2018
Tax Reform: Qualified Improvement Property, Bonus Depreciation and Section 179 Expensing
With the passage of the Tax Cuts and Jobs Act, there are now more tax benefits and simplification…
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