Tax Reform
New Tax Rules and Changes for 2021 – Everything you need to know
Nobody expected the Spanish Inquisition. With tax season just around the corner, you should know what to expect to avoid moments of shock later on. With so many tax changes set to take effect in 2021, if you plan now – you can save the most money further down the road. Consolidated Appropriation Act While…
Read MoreStrange and Funny Tax Laws Throughout History
Tax season concluded late this year, with the filing deadline on July 15th. Between the COVID-19 pandemic and the economic instability that resulted from it, we are all a little stressed. To lighten the mood, we decided to put together a list of funny and strange tax laws that have been levied throughout history. We’ve…
Read MoreImportant Dates In American Tax History Post-1812 Up to The Civil War
The war with the British plunged the new nation into debt and gave rise to protectionist policies being passed. The young nation wanted to protect its newly established manufacturing industries, but the policies started to drive a wedge between the interests of the Northern and Southern states. This set the stage for the Civil War.
Read MoreHow The Tax Cuts and Jobs Act (TCJA) Affects Fantasy Sports
Fantasy sports is becoming increasingly popular, with 59.3 million people playing in the United States and Canada, creating a $7 billion industry. With this though, comes tax implications for winners. The Tax Cuts and Jobs Act (TCJA) provides tax opportunities and drawbacks that fantasy players should understand. There is currently an ongoing debate how winnings…
Read MoreHighlights of the New Tax Reform Law
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! The new tax reform law, commonly called the “Tax Cuts and Jobs Act” (TCJA), is the biggest federal tax law overhaul in 31 years, and it has both good and…
Read MoreUS Senate Presents A Different Take On Tax Reform
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! by Mike Godfrey, Tax-News.com, Washington The Senate Finance Committee released its tax reform plan on November 9, presenting a draft bill with marked differences to that agreed by the House Ways and…
Read MoreTrump Looks To Democrats To Shore Up Tax Reform Push
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! by Mike Godfrey, Tax-News.com, Washington US President Donald Trump has reached out to Democrat lawmakers to discuss tax reform, in a bid to obtain bipartisan support to get a package through…
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