The IRS recently issued final regulations regarding reducing the charitable contribution under Section 170 when the taxpayer receives or expects to receive a corresponding state or local tax credit. Unfortunately, many of our Georgia clients have for years been using these techniques to redirect money to a school or to a rural hospital. This law would disallow a charitable deduction for these donations when the taxpayer would get a state tax credit. Please contact your CPA here at Loggins if you have further questions about this new regulation.
Mileage Rate for 2019
December 14, 2018 by · Leave a Comment
The IRS just announced that effective January 1, 2019, the standard mileage rate for business miles will be 58 cents per mile, which is an increase of 3.5 cents per mile from 2018. The mileage deduction is one that is often overlooked. Are you reporting business mileage correctly on your tax return? Give one of our CPAs a call today to discuss how to account for business use of your vehicle.
Deduction – New 20% Pass-Through Tax Break
August 6, 2018 by · Leave a Comment
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
January 30, 2018 by · Leave a Comment
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
January 19, 2018 by · Leave a Comment
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
January 12, 2018 by · Leave a Comment
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
August 19, 2016 by · Leave a Comment
As 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
July 28, 2016 by · Leave a Comment
No 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
July 18, 2016 by · Leave a Comment
If 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
September 28, 2015 by · Leave a Comment
For 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!
