jchestercpa.com RSS Feed http://jchestercpa.com/ Take a look at our recent blog posts and client newsletter articles. en-us Mon, 01 Mar 2021 09:00:00 -0600 Mon, 01 Mar 2021 09:00:00 -0600 Tax Breaks for Families With Children http://www.jchestercpa.com/newsletter.php#3 If you have children, one or more of these tax credits and deductions could help your family reduce the amount of tax owed. Mon, 01 Mar 2021 09:00:00 -0600 http://www.jchestercpa.com/newsletter.php#3 Small Business Tax Roundup http://www.jchestercpa.com/newsletter.php#4 In 2020, the IRS issued a number of guidance documents as well as final rules and regulations that clarified several tax provisions affecting businesses. Mon, 01 Mar 2021 09:00:00 -0600 http://www.jchestercpa.com/newsletter.php#4 Renting Out a Second Home http://www.jchestercpa.com/newsletter.php#2 Tax rules on rental income from second homes can be confusing, especially if you rent the home out for several months of the year and also use the home yourself. Mon, 01 Mar 2021 09:00:00 -0600 http://www.jchestercpa.com/newsletter.php#2 Capital Gains Tax on Sale of Stocks http://www.jchestercpa.com/newsletter.php#5 If you made money last year buying and selling stocks, you may owe capital gains tax. Mon, 01 Mar 2021 09:00:00 -0600 http://www.jchestercpa.com/newsletter.php#5 Avoiding an IRS Tax Audit http://www.jchestercpa.com/newsletter.php#1 With taxes becoming more complicated every year, there is an even greater possibility of tax confusion turning into a tax mistake and an IRS audit. Avoiding "red flags" like these could help. Mon, 01 Mar 2021 09:00:00 -0600 http://www.jchestercpa.com/newsletter.php#1 What's New for 2020 Tax Returns http://www.jchestercpa.com/newsletter.php#2 Taxpayers should be aware of several key items involving credits, deductions, and refunds when filing their tax returns this year. Mon, 01 Feb 2021 09:00:00 -0600 http://www.jchestercpa.com/newsletter.php#2 Taxable vs. Nontaxable Income http://www.jchestercpa.com/newsletter.php#5 Are you wondering if there's a hard and fast rule about what income is taxable and what income is not taxable? The quick (and easy) answer is that all income is taxable unless the law specifically excludes it. Mon, 01 Feb 2021 09:00:00 -0600 http://www.jchestercpa.com/newsletter.php#5 Tax Filing Season Starts February 12 http://www.jchestercpa.com/newsletter.php#1 The IRS begins accepting and processing 2020 tax year returns on Friday, February 12, 2021. Mon, 01 Feb 2021 09:00:00 -0600 http://www.jchestercpa.com/newsletter.php#1 Social Security Benefits and Taxes: The Facts http://www.jchestercpa.com/newsletter.php#4 Generally, you pay federal income taxes on your Social Security income only if you have other substantial income in addition to your benefits. Mon, 01 Feb 2021 09:00:00 -0600 http://www.jchestercpa.com/newsletter.php#4 Employer Tax Credit Extended for Payroll Workers http://www.jchestercpa.com/newsletter.php#3 Extended through June 30, 2020, the Employee Retention Credit helps businesses keep their employees on the payroll - despite the challenges posed by COVID-19. Mon, 01 Feb 2021 09:00:00 -0600 http://www.jchestercpa.com/newsletter.php#3 Why Tax Reform is not easy http://www.jchestercpa.com/blog.php?id=63 No sooner than the ink has dried and Congress is ready to muck it open. Tue, 22 May 2018 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=63 Annual Reminder to check your SSA & Credit report http://www.jchestercpa.com/blog.php?id=62 Annual Reminder to pull your online SSA statement and free annual credit report Fri, 26 Jan 2018 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=62 HOBBY OR BUSINESS - DON'T LOSE THE DEDUCTION http://www.jchestercpa.com/blog.php?id=34 JUST BECAUSE YOU CAN SUBSTANTIATE A VALID BUSINESS EXPENSE DOESN'T MEAN IT IS ULTIMATELY DEDUCTIBLE. Thu, 30 Nov 2017 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=34 More Thanksgiving Dinner indigestion http://www.jchestercpa.com/blog.php?id=61 Just when you thought it was safe to eat Thanksgiving dinner, Congress serves up a "mess of something". Wed, 29 Nov 2017 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=61 IRS Letters - What to do? http://www.jchestercpa.com/blog.php?id=60 Taxpayers: Seven Things to Do When an IRS Letter Arrives (Actually, there really is only One) Wed, 22 Nov 2017 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=60 HSA Funding Opportunity Secret http://www.jchestercpa.com/blog.php?id=59 USING THE LAST-MONTH RULE TO FUND YOUR HSA TO THE MAX Fri, 17 Nov 2017 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=59 Planning your FSA amounts http://www.jchestercpa.com/blog.php?id=58 Plan now to Use Health Flexible Spending Arrangements in 2018 Thu, 16 Nov 2017 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=58 Year End Charitable Giving http://www.jchestercpa.com/blog.php?id=57 Tips to ensure your donations to charity are fully deductible for 2017 Wed, 15 Nov 2017 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=57 Midyear tax planning and withholding adjustments http://www.jchestercpa.com/blog.php?id=56 Summer is 1/3 over, kids going back to school soon, year 1/2 over. Where are you on your 2017 taxes? Fri, 28 Jul 2017 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=56 Surrogate Medical Expenses deductible http://www.jchestercpa.com/blog.php?id=55 Medical expenses for a surrogate may be tax deductible if planned correctly Fri, 21 Jul 2017 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=55 Watchdog arm of IRS is concerned over IRS collections http://www.jchestercpa.com/blog.php?id=54 Taxpayer Advocate is concerned over IRS collections Mon, 10 Jul 2017 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=54 IRS Warns its auditors - Do Not rely on published IRS info http://www.jchestercpa.com/blog.php?id=53 IRS Warns Agents Against Using IRS Website FAQs to Sustain Positions in Exam Fri, 09 Jun 2017 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=53 UPDATE on IRS private debt collectors http://www.jchestercpa.com/blog.php?id=52 IRS hires private debt collectors. What you need to know to ensure your privacy is protected as well as your identity Fri, 02 Jun 2017 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=52 Tax Planning opportunities continue http://www.jchestercpa.com/blog.php?id=51 Congress won't make progress on tax reform for 2017 so planning opportunites continue Fri, 26 May 2017 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=51 You will not see this in a Turbo Tax Ad http://www.jchestercpa.com/blog.php?id=50 The true value of Turbo Tax and other self prepared tax software Thu, 18 May 2017 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=50 Summer Help http://www.jchestercpa.com/blog.php?id=49 There are great tax planning and business tax saving strategies you can implement this summer. Wed, 17 May 2017 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=49 IRS IS FOCUSING ON FARMERS http://www.jchestercpa.com/blog.php?id=48 IRS initiates pilot program for auditing farmers' Form 1040, Schedule F expenses Tue, 16 May 2017 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=48 Congress adjourns without acting on previously unextended \"extenders\" http://www.jchestercpa.com/blog.php?id=47 Congress has now adjourned for 2016, leaving taxpayers and their advisors uncertain as to whether and when these provisions will be further extended, made permanent, or left expired. Thu, 15 Dec 2016 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=47 IRS Publishes 2017 Mileage Rates http://www.jchestercpa.com/blog.php?id=46 The standard mileage rates used to calculate business, medical and charity deductions for 2017 have been released Tue, 13 Dec 2016 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=46 New Year, New Scams http://www.jchestercpa.com/blog.php?id=45 IRS Warns Taxpayers of Numerous Tax Scams Nationwide; Provides Summary of Most Recent Schemes Mon, 12 Dec 2016 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=45 IRS makes it more expensive to work with them http://www.jchestercpa.com/blog.php?id=44 IRS Raises Fees for Installment Agreements and Revises List of Charges Mon, 05 Dec 2016 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=44 Judge Blocks New Over-time Regulations http://www.jchestercpa.com/blog.php?id=43 Breaking News: Court Temporarily Blocks Overtime Rule Wed, 23 Nov 2016 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=43 Updated contibution limites http://www.jchestercpa.com/blog.php?id=42 IRS has announced the 2017 cost-of-living adjustments (COLAs) for retirement plans. Mon, 31 Oct 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=42 IRS TO ENFORCE COLLECTION OF $9 BILLION http://www.jchestercpa.com/blog.php?id=41 IRS agrees with TIGTA to step up enforcement of backup withholding Mon, 31 Oct 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=41 IRS Transfer debt collection to private companies http://www.jchestercpa.com/blog.php?id=40 IRS Transfer debt collection to private companies Fri, 30 Sep 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=40 Thieves take tax scams to the next level http://www.jchestercpa.com/blog.php?id=39 New Scam has been discovered for thieves to take you money. Mon, 19 Sep 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=39 IRS announces proposed increases to user fees http://www.jchestercpa.com/blog.php?id=38 Proposed increases in fees as part of IRS's continuation of their Pay for Play tax system Mon, 22 Aug 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=38 More info required http://www.jchestercpa.com/blog.php?id=37 The amount of info needed to claim some credits has been increased. Thu, 28 Jul 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=37 Advanced PTC http://www.jchestercpa.com/blog.php?id=36 Don't have a "surprise" on your 2016 tax return by having to repay any advanced premium tax credit Fri, 15 Jul 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=36 Newsletter http://www.jchestercpa.com/blog.php?id=35 Sign up to receive our monthly newsletter Sun, 10 Jul 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=35 UBER MAY NOT BE SO PROFITABLE http://www.jchestercpa.com/blog.php?id=33 TAX CONSEQUENCES OF DRIVING FOR UBER Tue, 28 Jun 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=33 IRS BREAKS OPEN THE BANK http://www.jchestercpa.com/blog.php?id=32 IRA HANDS OUT REFUNDS THANKS TO THE "PATH" ACT Thu, 16 Jun 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=32 Reverse Mortgages Forward Tax Consequences http://www.jchestercpa.com/blog.php?id=31 Reverse mortgages may have some unintended tax consequences. Mon, 13 Jun 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=31 Newest IRS Scam http://www.jchestercpa.com/blog.php?id=30 IRS Warns of latest scam Tue, 31 May 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=30 1099's To File or Not to File - That is the question http://www.jchestercpa.com/blog.php?id=29 Are 1099 required or advised? Mon, 16 May 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=29 What is a uniform? http://www.jchestercpa.com/blog.php?id=28 What can be deducted as uniform expense Wed, 11 May 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=28 Misclassified workers remains a priority http://www.jchestercpa.com/blog.php?id=27 IRS is going after employers that mis-classify workers and states are happy to help. Mon, 09 May 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=27 Dont lose your charitable donation http://www.jchestercpa.com/blog.php?id=26 Warning - You may not receive the full amount of your donation! Wed, 27 Apr 2016 09:00:00 -0500 http://www.jchestercpa.com/blog.php?id=26 YOUR SSA BENEFIT STATEMENT IS AVAILABLE ONLINE http://www.jchestercpa.com/blog.php?id=24 Annual Reminder to Review Your Social Security Statement Fri, 19 Feb 2016 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=24 ANNUAL CREDIT REPORT http://www.jchestercpa.com/blog.php?id=25 You can pull your credit report Fri, 19 Feb 2016 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=25 IRS AND YOU - YOU ARE ALONE http://www.jchestercpa.com/blog.php?id=23 IRS annual report to congress Wed, 13 Jan 2016 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=23 IRS SENDS OUT INCORRECT LETTERS http://www.jchestercpa.com/blog.php?id=22 ID FRAUD VICTIMS RECEIVING ID PIN LETTERS WITH INCORRECT INFO Mon, 11 Jan 2016 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=22 YOU OWE THE IRS $$$ http://www.jchestercpa.com/blog.php?id=20 Congress approves hiring outside debt collectors for IRS debt Fri, 18 Dec 2015 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=20 Per Diem Rates for 2016 http://www.jchestercpa.com/blog.php?id=19 2016 Per Diem rates to use to calculate meals/incidental expenses for a tax deduction Fri, 11 Dec 2015 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=19 Tax Moves Every Taxpayer Should Consider Before the End of the Year http://www.jchestercpa.com/blog.php?id=17 Items to considered before end of year for tax savings Mon, 07 Dec 2015 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=17 Dallas holiday fun at an unbelievable price! http://www.jchestercpa.com/blog.php?id=18 ADMISSION TO THE DALLAS ARBORETUM FOR AN INCREDIBLE VALUE Mon, 07 Dec 2015 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=18 HOW TO OFFER HEALTH INSURANCE http://www.jchestercpa.com/blog.php?id=13 HOW TO PROVIDE HEALTH INSURANCE TO EMPLOYEES WITHOUT VIOLATING THE AFFORDABLE CARE ACT Fri, 04 Dec 2015 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=13 EMPLOYEE GIFTS - SOMETHING EXTRA? http://www.jchestercpa.com/blog.php?id=16 Gifts of cash and non-cash items to employees is taxable as wages for amounts that exceed $25 Wed, 02 Dec 2015 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=16 YEAR END CHARITABLE GIVING http://www.jchestercpa.com/blog.php?id=14 Tips to ensure your donations to charity are fully deductible for 2015 Tue, 01 Dec 2015 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=14 CHRISTMAS COMES EARLY FOR SMALL BUSINESS http://www.jchestercpa.com/blog.php?id=12 For Small Businesses IRS Raises Tangible Property Expensing Threshold to $2,500 Mon, 30 Nov 2015 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=12 CONGRESS CHANGES THE RULES http://www.jchestercpa.com/blog.php?id=11 2 SOCIAL SECURITY STRATEGIES ARE BEING ELIMINATED Mon, 23 Nov 2015 09:00:00 -0600 http://www.jchestercpa.com/blog.php?id=11