Depending on what tax related documents you need to file, here are several key tax dates to pay attention to over the course of 2019. If you care for additional detail, visit the IRS Federal Tax Calendar or give our tax team a call (Jim Hamilton – 847.441.8800). We would be happy to walk you…
Under the Tax Cuts and Jobs Act of 2017, several new rules went into effect regarding the Section 179 expense deduction that improve your opportunity to take a more immediate and or larger deduction on cars used for business purposes. Below are five rules you should know. For further information and guidance on these rules,…
The IRS recently issued its final regulations on the new 20 percent deduction for Qualified Business Income (QBI) for pass-through businesses (Section 199A). This new deduction was added as part of the Tax Cuts and Jobs Act of 2017. The final regulations are 247 pages long, and because this is a new deduction, there are…
Jim L. Hamilton, CPA, has spent 21 years with Weiss & Company LLP as a tax partner who leads the firm’s Tax Planning & Compliance Department, he has seen his share of tax reform laws over the years and is working with his staff to help his clients interpret the new rules. He sat down…
Sometimes speaking English alone isn’t enough to make complex business and tax topics clear to clients. That’s why Weiss & Company LLP offers bilingual services in several languages, including Spanish, Polish, Hebrew, Hindi, Korean, Russian, Romanian, Turkish and Kyrgyz. In fact, over a dozen of its staff members are bilingual. “We don’t make clients fit…
The federal government is in partial shutdown, but what does that mean as we begin the tax season? First, taxpayers should keep in mind that due dates have not changed as a result of the shutdown. But while the Internal Revenue Service (IRS) is working with a staff of excepted employees, many IRS employees are…
