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    IRS Processing Delays
    Schoelles and Associates
    • May 28, 2021

    IRS Processing Delays

    Haven't received your refund? You're not alone. May 28, 2021 Excerpt courtesy of IRS.gov The IRS is now opening...
    Schoelles and Associates
    • Dec 29, 2020

    Pam Talks Planning: Last minute tax savings for individuals.

    1) Charitable Deduction - $300 without using Schedule A to itemize 2) Schedule A – close to itemizing – bunch every other year a....
    Schoelles and Associates
    • Dec 29, 2020

    Last minute year-end tax tips for businesses.

    *Pay final bills and postmark by 12/31/2020 *Newly purchased business equipment must be placed in service by 12/31/2020 to be deductible...
    IRS Releases Form 1040 For 2020 (Spoiler Alert: Still Not A Postcard)
    Schoelles and Associates
    • Dec 14, 2020

    IRS Releases Form 1040 For 2020 (Spoiler Alert: Still Not A Postcard)

    Courtesy of Forbes December 11, 2020 Kelly Phillips Erb The Internal Revenue Service (IRS) has released the...
    IRS: Unemployment compensation is taxable; have tax withheld now and avoid a tax-time surprise
    Schoelles and Associates
    • Aug 18, 2020

    IRS: Unemployment compensation is taxable; have tax withheld now and avoid a tax-time surprise

    Don’t have a tax-time surprise – Withhold income tax on unemployment compensation. It’s TAXABLE!!
    IRS proposes update to income tax withholding rules
    Schoelles and Associates
    • Feb 11, 2020

    IRS proposes update to income tax withholding rules

    The Internal Revenue Service and the Treasury have proposed regulations updating the income tax withholding rules to reflect...
    Final rules determine maximum vehicle values
    Schoelles and Associates
    • Feb 4, 2020

    Final rules determine maximum vehicle values

    The IRS updated the fleet-average and vehicle cents-per-mile valuation rules described...
    IRS Restores Capital Gains Tax (To Form 1040) And Other Tax Return Changes For 2020
    Schoelles and Associates
    • Feb 3, 2020

    IRS Restores Capital Gains Tax (To Form 1040) And Other Tax Return Changes For 2020

    Ready or not, tax return reporting has changed yet again for the 2020 tax season.
    2020 IRS Refund Date Chart: When Will You Get Your Income Tax Refund
    Schoelles and Associates
    • Jan 30, 2020

    2020 IRS Refund Date Chart: When Will You Get Your Income Tax Refund

    The IRS officially opened the 2020 income tax season on Monday, January 27, when it started accepting tax returns.
    2019 Inflation-adjusted Vehicle Depreciation Limits and Income Inclusions Issued
    Schoelles and Associates
    • May 21, 2019

    2019 Inflation-adjusted Vehicle Depreciation Limits and Income Inclusions Issued

    The IRS on Tuesday provided the limitations on depreciation deductions for passenger automobiles first placed in service in 2019 and the...
    Can I Write Off Crowdfunding Contributions?
    Schoelles and Associates
    • May 21, 2019

    Can I Write Off Crowdfunding Contributions?

    Reflexively, most of us would say “yes.” Most people use the donor’s intent to distinguish between charitable contributions and...
    The Tax Status of Crowdfunding Receipts: Are They Gifts?
    Schoelles and Associates
    • May 21, 2019

    The Tax Status of Crowdfunding Receipts: Are They Gifts?

    A cancer survivor from Nebraska was sure that her GoFundMe receipts were non-reportable gifts. After all, they were (at least mostly) for...
    Taking care of business: record-keeping for small businesses
    Schoelles and Associates
    • May 8, 2019

    Taking care of business: record-keeping for small businesses

    Courtesy: IRS ~ Here are some questions and answers to help business owners understand the ins and outs of good record-keeping.
    Optimizing residential real estate deductions
    Schoelles and Associates
    • May 2, 2019

    Optimizing residential real estate deductions

    Courtesy of Journal of Accountancy by Janet C. Hagy, CPA
    How to Decrease Your Payroll Taxes with a Common Paymaster
    Schoelles and Associates
    • Jan 16, 2019

    How to Decrease Your Payroll Taxes with a Common Paymaster

    If a company has more than one entity, there is a good chance that they are overpaying payroll taxes for some of their employees...
    That Long List of Deductions Just Shrank
    Schoelles and Associates
    • Oct 31, 2018

    That Long List of Deductions Just Shrank

    Do you live in a state with high income taxes? If your saving grace has been a long list of deductions, the game may be over thanks to...

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