Entries by lstaxservices_i8x1k2

Tax Break for Disabled Vets

There has been some mention in the press recently about a tax break for disabled vets.  To explain this tax break let’s start with the basics of how retirement pay is taxed for a disabled veteran.  First off, disability pensions for a veteran are non-taxable, but regular retirement pay of a veteran is subject to […]

Summer Time Tax Check Up

I frequently recommend to my clients with complicated tax situations to do a summertime checkup to see if they are paying sufficient amounts through withholding or estimated payments in order to avoid a negative surprise at tax time.  This year that activity is especially important because of the various changes made to the tax law […]

SALT limitation in tax reform act

Many health professionals recommend limiting our salt intake but to tax professionals, SALT limits have a different meaning.  SALT refers to State and Local Taxes which have been deductible for many taxpayers in the past but are now limited to a maximum of 10,000 dollars under the new tax reform passed last December.  There are […]

Trump Tax Reform – tax breaks for everyone?

As I have written about before, although the recent tax reform bill lowers tax rates for virtually everyone, not everyone will have their overall federal income tax reduced.  That’s because the law includes some tax breaks but also eliminates some deductions.  In doing an analysis of my client base, the vast majority of clients will […]

Myths about the new tax bill

There has been a great deal of talk in the media and elsewhere about the new tax overhaul signed by President Trump in late December.  This has included a great deal of misinformation about what the bill actually contains.  Many experts tried to analyze what they thought the bill would contain prior to passage, and […]

Another judge rules to hold the IRS accountable

Despite attempts by the IRS, many politicians, and the media to pretend that the tea party targeting scandal did not occur, lawsuits from groups affected by the illegal behavior of the IRS are still continuing.  Judge Reggie B. Walton recently ruled in favor of some of these groups and ordered the IRS to produce more […]