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Point CPA
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Kids back in school, the days getting shorter, pumpkin spice everything. It must be fall! For businesses, that means it’s time to begin year-end tax planning. It’s also time to think about the fourth quarter 2018 filing deadlines. Read more: http://bit.ly/2MIO8it #IRS #4thQTR
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The House Ways and Means Committee has released three “Tax Reform 2.0” bills. The bills focus on making permanent provisions of the Tax Cuts and Jobs Act, promoting family and retirement savings, and promoting new business innovation, including allowing businesses to write off more of their start-up costs. The bills are titled: the “Protecting Family and Small Business Tax Cuts Act of 2018,” the “Family Savings Act of 2018” and the “American Innovation Act of 2018.” Although the passage of bills in the House is uncertain, a full House vote is planned by Oct. 1. #TCJA #IRS
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The #third of fourth estimated tax payment is coming up very soon. Here’s how to determine if you need to make a payment http://bit.ly/2oJRgkm #IRS #3rdQTR
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If you requested an #extension to file your 2017 tax return, be aware that Monday, October 15, is generally the deadline. This applies to people who, instead of filing their tax returns back in April, requested an extra six months to file their 2017 returns on #IRS Form 4868. Special rules apply to members of the military and those serving in a combat zone. Military members typically have until at least 180 days after leaving a combat zone to both file tax returns and pay any taxes due.
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They say the devil is in the details. This certainly holds true for strategic #planning, where setting vague or impossible goals can be a company’s undoing. Maybe it’s time to get SMART. Read More: http://bit.ly/2vsqxwt
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Business meal, vehicle and travel expense deductions can be a hot button for the #IRS. Is your business properly documenting them? Read more: http://bit.ly/2ORq7Ia
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Its Friday and feels like summer is almost over!

What is your favorite summertime activity? #summer #vacations
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If you’re considering making a gift of income-producing or appreciated assets to a minor or a college student, beware of the big, bad kiddie tax. It’s fiercer under the #TCJA. Read more: http://bit.ly/2AQ2sov
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The #IRS has published an online resource guide related to the Tax Cuts and Jobs Act. The resources “will help individual taxpayers, businesses and the tax community understand the law and its effect on their taxes,” the IRS said. The guide includes an updated Withholding Calculator, which the agency encourages taxpayers to use to perform a “Paycheck Checkup.” It also links to an updated Form W-4 (Employer Withholding Allowance Certificate) taxpayers can use to change their withholding. The guide will “reflect changes as they develop.” Visit https://bit.ly/2LJ2a7S
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When employers provide employees with annual wage and tax statements (Forms W-2), they also report the data to the Social Security Administration (SSA). If the names and SS numbers don’t match #SSA records, the taxpayers’ records can’t be properly credited. Reasons for errors include typos, unreported name changes, and inaccurate or incomplete employer records. To remedy the mismatch, the SSA announced, beginning in Spring 2019, it will send “Educational Correspondence” notices to employers to review and correct errors and to encourage reporting data online.
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