Author: Tax Pro

IRS Update

Possible refund for vets injured in combat Certain veterans injured in combat may be due a credit or refund as a result of the Combat-Injured Veterans Tax Fairness Act of 2016, according to the IRS. This affects vets who received one-time, lump-sum disability severance payments when they separated from military… Read More»

Hedging Against a Trade War

As a small business owner, the words “trade war” and “tariff” can be unsettling. When cost uncertainty is on the horizon, you will want to be prepared as much as possible. Keep the following items in mind to navigate your business through a possible trade war. Tariffs Defined A tariff… Read More»

Five Annual Tax Essentials

Mark your calendar to review these essential items each year to ensure you are not missing something that could cause trouble when you file your tax return: Required minimum distributions (RMDs) – If you are 70 1/2 or older, you may need to take RMDs from your retirement accounts, or… Read More»