Five Plus One = $12,000

Five Plus One = $12,000

The April 15th deadline is only 31 days away!

We have seen many of you and here are the top 5 questions we are being asked plus a BONUS planning idea for business owners.

TOP FIVE QUESTIONS

Is my real estate tax, sales tax, and property tax still deductible?  Yes and No.  The “SALT” taxes are limited to a maximum of $10,000. So yes they are deductible however many are finding that with property taxes rising they are getting capped.

Is the mortgage interest on my house deductible?  Yes, however, the standard deduction has risen and now is $24,000 for married couples, $18,000 for the head of households and $12,000 for single filers.  There are also limitations on the amount of the mortgage which for loans taken out after December 16, 2017, the loan is capped at $750,000.

(more…)

Cybersecurity and You

Cybersecurity and You

What is Cybersecurity and why is it important to you whether you are an individual, a business owner or a college student?

Cybersecurity is the protection of Internet-connected systems, including hardware, software, and data, from cyber attacks.  Part of living in the digital era is understanding that our private information is more vulnerable than ever before. News stories about ID theft and data breaches abound, with the effects being felt by millions of consumers. And while companies and institutions are constantly working to protect themselves with increased security measures, you can play a role in this fight as well.

(more…)

Eliminate Tax Shock for 2019

Eliminate Tax Shock for 2019

With basically four months left in 2018, it is important to start thinking NOW about tax planning for 2018.  The Trump Tax Cut & Jobs Act made serious deviations in the tax system.

Whether you are an individual or a business it is time to take a deep dive into what 2018 will look like for you.  Ignorance will not be your friend at tax time.  Get focused now and be proactive in your planning.

These are my five ways to Eliminate Tax Shock in 2019.

(more…)

Top 5 Lessons Learned in Mom’s Kitchen

Top 5 Lessons Learned in Mom’s Kitchen

We all have our memories of “Mom” and many of mine come from conversations I had with her in the kitchen.  While I do have two siblings, I like to say that I am the oldest only child of three.  My brother is five years younger and my sister is eight years younger.

I spent a lot of time as a child with mom before siblings came along and it continued while they were young.  Thinking about those hours spent with Mom in the kitchen made me think of the lessons learned.

Those memories made range from simple conversations to the conversation when I was eight about how could Santa travel around the world in one night.  I was convinced he could not make it all happen and yet today I still believe.

These are my top five lessons learned from kitchen conversations with mom.  They are as applicable today as they were many years ago.

(more…)

My Top Four IRS TAX SCAMS

My Top Four IRS TAX SCAMS

“Phone ringing”

“Hello”

“This is the IRS and you owe taxes.  Unless you pay RIGHT NOW with iTunes Gift cards we are going to come and take you to jail”

Sounds ludicrous, yet thousands of people have lost millions of dollars and their personal information to tax scams. Scammers use the regular mail, telephone, or email to set up individuals, businesses, payroll and tax professionals.

The IRS DOES NOT INITIATE CONTACT with TAXPAYERS.  They do not use social media, email or text messages.

With just about six weeks left before the April filing deadline, the scammers and crooks are out in full force.  The scammers are getting better by the day and have created many new angles to steal your money.

(more…)