Deduction – New 20% Pass-Through Tax Break

New Tax Laws for 2018
New Tax Deduction

We are reaching out to you to let you know about one of the many changes in 2018 due to the new tax law.  If you own a business, this deduction will more than likely apply to you.

Bottom Line:  Because of the new tax law, tax planning for business owners will be especially crucial this year.  We are still expecting regulations from the IRS regarding the new pass-through business deduction (hopefully by the end of the summer), but we wanted to notify you of what’s coming.

We also understand that taxes – especially business taxes – can be confusing.  Please feel free to contact us at 770-478-7424 or at info@logginscpa.com to setup a consultation with a CPA.


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New Form W-4 Delayed

The IRS issued a notice on Monday, January 29, 2018, to provide more guidance on the withholding rules that resulted from the recent legislation known as the Tax Cuts and Jobs Act.  As part of that new legislation, the IRS issued new withholding tables with a promise of a new Form W-4.  The IRS has been in the process of revising Form W-4, but now feel that the new version may not be finished until after February 15, 2018.  [Read more…]

Tax Season Hours

It’s that time again – Tax Filing Season! 

That means you need to start gathering your important tax documents for this year’s return preparation.  For Loggins Kern & McCombs employees, [Read more…]

New Withholding Tables Issued

The IRS has issued new income tax withholding tables for 2018 due to major changes in the new tax law.  Everyone should take a look at your withholding to make sure you’re deducting the correct amount of taxes under the new legislation. [Read more…]

Going for the (Taxation) Gold

Rio 2016As we all sit back in our easy chair to enjoy the summer Olympics, Uncle Sam is getting ready to rake in the taxes.   That’s right, each Olympian is awarded a cash payout in addition to the medal.  Well, the Internal Revenue Service treats all the winnings the same way they do our paychecks, by taxing it as income.  The cash is considered “earned income abroad” equal to $25,000 for gold, $15,000 for silver and $10,000 for bronze plus the value of the medal itself. [Read more…]

Prevent Tax-Time Surprises

canstockphoto0201034No one usually wants to get a surprise when filing their tax return.  Summer is a good time to take a look at your withholding to make sure you don’t get blind-sided next tax season.  There are many life events that can have an impact on your taxes, meaning the amount you get back or worst, the amount you owe.   Loggins Kern & McCombs can assist you with making the right withholding decisions based on your specific tax situation.  If you have experienced or expect to experience any of the following events before the end of the year, contact our office to avoid any surprises.

  • Start a New Job
  • Become Self-Employed
  • Get Married
  • Birth of Child
  • Adoption
  • New Home

Unlimited Representation Before the IRS

IRS Auditor - SliderIf you receive an IRS notice or are selected for an audit, then one of your rights as a taxpayer is to have unlimited representation by a credentialed tax practitioner to act on your behalf.   New for 2016 is the addition of the word “unlimited“.  This means that professionals who fall under this category can represent you regardless of whether or not they prepared your tax return.  A Certified Public Accountant (CPA) is an example of one of those tax practitioners.  Loggins Kern & McCombs has been a certified tax practitioner for over thirty years and represented many clients before the Internal Revenue Service.  [Read more…]

October Deadline

Clock - Deadline 1For those you who filed an extension on your 2014 individual tax return, the deadline to file is right around the corner.  According to the IRS, about a quarter of the 13 million taxpayers who filed an extension have yet to file their return. The October 15th deadline is only a couple of weeks away so we encourage you to get your tax documents to us as soon as possible to allow adequate preparation time.

If you  need to make an appointment, call our office today at 770-478-7424.  You may not realize it, but you don’t “have” to come into the office for an appointment.  We have many clients who send their documents in the mail with a follow-up phone consultation if necessary.  When mailing tax-related documents to our office, it is best to do so in a way that can be tracked through the post office or other shipping service (UPS or FedEx).  We also have clients who scan and email their support documents which is a viable and time-saving option.  The countdown is on – We hope to hear from you soon!

 

Tips for Taxpayers Who Missed the Tax Deadline

If you missed the April 15 tax filing deadline, don’t panic.  Loggins Kern & McCombs can assist with all aspects of your tax preparation needs.  Here are a few tips: [Read more…]

IRS Direct Pay Option

Direct Pay ButtonThe Internal Revenue Service offers a web-based system — IRS Direct Pay — on IRS.gov, which lets taxpayers pay their tax bills or make estimated tax payments directly from checking or savings accounts without any fees or pre-registration. [Read more…]