by Tiffany Mellow | Sep 14, 2018 | Business Taxes, Personal Accounting
I met with one of my higher income clients this morning to discuss tax saving ideas. She operates a business out of her home to keep the overhead low. This year her income has increased about 20 percent and it looks like the growth will continue for the foreseeable...
by Tiffany Mellow | Aug 23, 2018 | Business Taxes, General, Non-Profit Taxes, Personal Taxes
This week our area has been hit with an increased number of tax-related scam telephone calls. They are starting to sound much more realistic than similar scams in prior years. Usually the caller will identify themselves as a member of an enforcement division of either...
by Tiffany Mellow | Jul 25, 2018 | Business Taxes, Non-Profit Taxes, Personal Taxes
Last week I spent three fantastic days at the IRS Nationwide Tax Forum! Many new tax laws and changes to the tax forms are slated for the next filing season. The amount of new information, procedural changes and tax form modifications discussed was at times,...
by Tiffany Mellow | Jul 11, 2018 | Personal Accounting, Personal Tax Deductions, Personal Taxes
The new tax law will cause many casual gamblers to incur bigger losses than before! Prior to 2018 you could deduct your losses up to the amount of your winnings. You did this by claiming your losses as itemized deductions. The new tax law for 2018 doubles the standard...
by Tiffany Mellow | Jul 4, 2018 | General, Personal Accounting
Do you read the “junk mail” inserts included with your electric bill? If not, you may have missed an opportunity to be paid for recycling your old refrigerator or freezer. From now until July 31, 2018 Potomac Edison is offering a $75 credit for any working...
by Tiffany Mellow | Jun 27, 2018 | Personal Accounting, Personal Tax Deductions
The 2018 Tax Cuts and Jobs Act limits the deduction for home equity loans and home equity credit lines. The media has done a poor job of informing the public about this issue. Many of the newspaper and radio accounts have indicated there is no provision for deducting...
