Category: Tax Services

A Blog written by the Tax Attorneys for Individuals and Businesses

Businesses Entitled to Deduct Charitable Contributions Received in Exchange for SALT Credits

Posted on February 12, 2019February 13, 2019 by moskowitz Posted in Business Law, State & Local Taxation, Tax Services

One of the more controversial provisions of the Tax Cuts and Jobs Act (TCJA) of 2017 was the addition of 26 U.S. Code § 164(b)(6), which capped the tax deduction for state and local taxes (SALT) paid by an individual to $10,000 per year ($5,000 for married taxpayers who file...

Fell a little short on your estimated tax payments? No worries!

Posted on February 6, 2019February 13, 2019 by moskowitz Posted in Tax Planning & Compliance, Tax Services

On January 16, 2019, the IRS announced that it will be waiving the tax underpayment penalty for those who fell short on their 2018 estimated tax payments. The federal tax underpayment tax penalty is usually waived for taxpayers who paid at least 90% of their tax liability during the year...

Category: Tax Services

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