8 Tax Deductions You Can Still Claim on Your 2018 Taxes

With the passage of the Tax Cuts and Jobs Act of 2017, a number of popular tax deductions were either eliminated or limited. While many popular deductions went away, the standard deduction nearly doubled…

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Special Rules for Reporting S Corporation Shareholder Health Insurance Premiums

The IRS released special rules regarding the deduction by more than two-percent shareholder-employees of S corporations for health insurance premiums paid by or reimbursed by the S corporations and included…

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Significant Increase in Mileage Rates for 2019

The optional standard mileage rates for business use of a vehicle will increase significantly in 2019, after increasing slightly last year. Beginning on Jan. 1, 2019, the standard mileage rates for the…

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NJ Tax Amnesty: November 15, 2018 through January 15, 2018

The NJ Tax Amnesty program applies to outstanding tax filings or payments that are due on or after February 1, 2009, and prior to September 1, 2017. The NJ Division of Taxation recently mailed a letter…

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IRS Inflation Adjustments and Tax Tables Issued for 2019

The IRS issued the 2019 annual inflation adjustments for many tax provisions as well as the 2019 tax rate tables for individuals and estates and trusts (Rev. Proc. 2018-57). These adjusted amounts will…

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