The Tax Cuts and Jobs Act (TCJA) resulted in many changes to tax law. These changes will directly impact property owners. Four specific examples include:Standard deduction. The TCJA increased the standard deduction from $6,500 to $12,000 for individuals and...
World Cup athletes face tax battles off the field
It is World Cup time. This year, the World Cup marks more than just a celebration of amazing soccer games. It also showcases athletes that are in the middle of international tax battles.Arguably, two of the greatest soccer players of our time are currently facing...
Self-employed? Do not forget today’s tax deadline.
The estimated tax for the second quarter of 2018 is due today, June 15.Why do the self-employed have to pay four times per year? Essentially, the United States tax system is a pay as you go system. Employers generally remove taxes for workers every paycheck. The...
Would Uncle Sam consider chickens the same as cash?
There is a great deal of uncertainty tied to the Tax Cuts and Jobs Act (TCJA). One involves the treatment of chickens. Puns abound when analyzing how the Internal Revenue Service (IRS) will define chickens without running afowl of the new tax law. But all jokes aside,...