Waterfront Tax & Accounting Blog

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Services for Real Estate Pros - Lisa D Church CPA, EA, MBA, NTPI Fellow
RECENT BLOG POSTS
Owing Taxes is not pleasant. However, if you file a tax return that upsets the IRS then the IRS will charge you penalties and Interest that will make you wish you filed your return correctly in the first place. As a taxpayer or business owner you should be aware of what upsets the IRS and avoid m...
02/24/2019
If you're claiming the Earned Income Tax Credit or Additional Child Tax Credit, both of which are refundable credits, your refund will be released by the IRS starting from February 27, 2019. A refundable credit is one which gives you cash back even if you didn't pay any tax into the system during...
02/21/2019
If you own stock that pays dividends your dividend income will be classified as either “Qualified” or “Ordinary”. The Financial institution that pays the dividends will send you a Form 1099-DIV that will tell you type of dividend. On Form 1099-DIV Qualified dividends are listed in box 1b and Ordi...
02/17/2019
Protect yourself from Tax Fraud by being aware that the IRS will never:* Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card, or wire transfer.* Demand that you pay the taxes without the opportunity to question or appeal the amount owed* Threat...
02/15/2019
With tax season coming into full swing, we should all take extra steps to protect our tax and financial data from identity thieves. Cybercriminals are looking for chances to steal financial account information, Social Security numbers, credit card information and other sensitive data to help them...
02/09/2019
If you are S corporation owner you should be aware of every tax break you are entitled to. Below are 10 ways from the Bradford Tax institute to reduce your S Corp Taxes: 1) Reduce S Corporation Owner’s WagesAs the owner of an S corporation, you can legitimately cut payroll taxes by thousands of d...
02/06/2019
January 31st, 2019 is the deadline for employers to issue W-2 forms to their employees. If you are an employee: You should expect to receive your W-2 from your employer soon, if you have not received it already. If you are an employer:  Remember to issue W-2s to your employees by 1/31/19.   My pr...
01/30/2019
The IRS will begin processing tax returns on January 28th, 2019, and provide refunds as scheduled. The recent government shut down did not delay this start date. The filing deadline for 2018 tax returns is Monday, April 15th, 2019. If you live in Maine or Massachusetts, you have until April 17th ...
01/27/2019
More good news due to increased income limits in the new tax laws. If you have a child who was under the age of 13 throughout 2018 or who was under the age of 17 and requires assistance for self-care, you might now be eligible to claim both the Child Tax Credit and the Child and Dependent Care Cr...
01/24/2019
Here is some more good news.Due to an increase in the cost of living the IRS increased the contribution limits for 2019 for retirement plans. The increases in the annual limit to contributions are as follows:  1) 401(k), 403(b), most 457 plans, Thrift Savings Plan: Limit increased from $18,500 to...
01/20/2019
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Lisa Church

IRS tax representation in Anne Arundel County, MD
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