One Big Beautiful Bill
One Big Beautiful Bill: A Game-Changer for U.S. Taxes On July 4, 2025, President Trump signed into law a landmark piece of legislation known as the One Big Beautiful Bill Act (“Act”). The provisions of the Act represent the most comprehensive tax law changes since the 2017 Tax Cuts and Jobs Act (“TCJA”). In many […]
The Tax Cuts and Jobs Act: What is at Stake in 2025
The Tax Cuts and Jobs Act (“TCJA”) of 2017 introduced the most significant changes to the tax code we have seen in nearly thirty years. It was enacted in President Trump’s first term in office and reduced average tax burdens for individual taxpayers across all income levels and simplified the tax filing process for many. […]
Your Tax Refund Isn’t a Bonus- It’s Your Money
Are you already planning what you will spend your tax refund on? While it may feel like a bonus, your refund is just the money you overpaid throughout the year. Essentially, the IRS has been borrowing your money interest-free for the past year. Why a Refund Isn’t Ideal: Rather than letting the IRS act as […]
When to Expect Your 1099
If you receive income from investments, dividends, education savings plans, or contract work, you’re undoubtedly familiar with IRS Form 1099. By the time April 15th rolls around, you might have even collected a hefty stack. However, what might be less clear is when you should expect to receive them. Some insist that the deadline is […]
Impact of Changing Tax Rates
https://youtu.be/BxtszmF7xmk Individual and corporate tax rates have been higher and lower in the past. Many are concerned about the possibility of higher tax rates in the future. See why those higher tax rates may be more important for you individually than the economy overall.
IRS Form 1099-K – The New Reporting Rule
Unless Congress acts this year to change the rule it enacted with the adoption of the American Rescue Plan Act of 2021, more information reporting will be required of certain third-party payment networks. Beginning this year, payment card companies, payment apps and online marketplaces such as PayPal, Amazon, Venmo and eBay, must file IRS Form […]
Cryptocurrency Taxation
Do I have to pay income tax on my cryptocurrency (“Crypto”) transactions? Will my Crypto transactions be reported to me? Over the past couple of years, we have heard these questions, and others like them, quite frequently. If you disposed of your Crypto during the year from a taxable account, the short answer is yes. […]
Coronavirus Aid, Relief and Economic Security Act
As the coronavirus (“COVID-19”) outbreak continues to create uncertainty across the United States, small business owners and individuals alike are now confronted with many unprecedented and unique challenges. To help us with these challenges, President Trump signed into law on March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (“Act”). This Act is […]
Tax Reform 2018 – Where do we Stand
As we approach the end of another year, we are close to being two years into the Tax Cuts and Jobs Act (“Act”) that was passed late in 2017 and became effective on January 1 of 2018. The Act made significant income tax changes including lowering income tax brackets and increasing standard deductions. As with […]
New Tax Act
As promised in our recent Harvester newsletter that we sent on December 7, 2017, we want to update you on the Tax Cuts and Jobs Act (the “Act”). The Act made it through the conference committee and was passed by both the House and Senate on December 20 and is expected to be signed by […]