CPA, JD
On December 22, 2017 the President signed into law the Tax Cuts and Jobs Act of 2017 (TCJA). The 503 page TCJA is the largest tax overhaul since the 1986 Tax Reform Act, and it will affect almost every individual and business in the United States. The effective date is for tax years commenced after Dec. 31, 2017, therefore your 2018 tax year is affected and now it’s a great time for tax planning.
Extended Time is Up to file your 2017 Personal Federal Income Tax Return. If you filed an extension to file your 2017 1040 it’s time to see your accountant ASAP! The extended deadline to file is around the corner on Monday Oct. 15, 2018. There are multiple penalties if you miss it. #1040Ext #ChildTaxCredit #CTC #TheProtectingTaxpayersAct #PTA #LicensingTaxPreparers #tax #taxcut #tcja #carlosnazario #carlosjnazariodiaz #amend #amended #amended1040 #1040 #1040x #1065 #1120 #k1 #qbid #regulations #taxregs #taxregulations #IRC #gastax #gas #inflation #IndexCapitalGains #itemizeddeductions
Time is Up for your 3rd Qtr 2018 Estimated Federal Income Tax Payment
The Tax Cuts and Jobs Act, enacted in December 2017, changed the way tax is calculated for most taxpayers beginning on January 2018. #1040ES #ChildandDependentCareExpensesCredit #CDCEC #ChildTaxCredit #CTC #S3278 #TheProtectingTaxpayersAct #PTA #LicensingTaxPreparers #tax #taxcut #tcja #carlosnazario #carlosjnazariodiaz #amend #amended #amended1040 #1040 #1040x
Child and Dependent Care Expenses Credit for Working Parents
Working parents can get a credit for Child and Dependent Care Expenses “CDCEC”. This credit includes summer camp, babysitters, paid daycare or other “child care” services. #ChildandDependentCareExpensesCredit #CDCEC #ChildTaxCredit #CTC #S3278 #TheProtectingTaxpayersAct #PTA #LicensingTaxPreparers #tax #taxcut #tcja #carlosnazario #carlosjnazariodiaz #amend
Certain U.S. citizens or resident aliens, specifically contractors or employees of contractors supporting the U.S. Armed Forces in designated combat zones, may now qualify for the foreign earned income exclusion.
Manafort Trial FBAR Conviction Alert ! In the U.S. v. Paul Manafort trial, the jury reached a partial verdict finding Paul Manafort guilty on five counts of tax fraud and one count of failing to file foreign bank account reports (“FBARs”).