TAXPAYER RESOURCES

With tax laws changing every year, completing your returns can be confusing and frustrating.

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Tax news and updates for individuals, families, and entrepreneurs

Our team of tax experts has the solutions to make your next filing a little easier — and that insight is just a click away. Browse our archive of tax-related posts below, and click the button to sign up for our newsletter and updates.

Factor cost-of-living adjustments into year-end tax planning

Nov 19, 2019

If you’re working on your year-end tax plan, don’t forget to take the new 2020 cost-of-living amounts into consideration.

Business year-end tax planning in a TCJA world

Nov 18, 2019

Allocating time for year-end tax planning now can prove beneficial come filing time next year.

Effects of the Wayfair ruling hit home for Tennessee

Oct 21, 2019

New sales tax collection requirements for remote sellers and marketplace providers took effect Oct. 1, 2019, in several states, including Tennessee.

Effective dates for major standards delayed in FASB vote

Oct 21, 2019

The FASB has approved proposals to delay the effective dates of its leases, credit losses, hedging, and long-duration insurance contract standards.

IRS provides guidance on bonus depreciation under TCJA

Oct 19, 2019

New IRS regulations for the first-year 100% bonus depreciation deduction have been published. Do you know how they might affect your business’s tax bill?

Section 179 changes provide added deductions for businesses

Oct 18, 2019

The Section 179 deduction and bonus depreciation for business assets have been increased and expanded in time for the 2019 tax year.

New standards aim to simplify rules for reporting income taxes

Oct 7, 2019

For years, businesses have complained that the guidance for reporting income taxes includes many mechanical rules and exceptions. But changes are coming.

What to do if your business receives a “no-match” letter

Sep 18, 2019

If the names and Social Security numbers on your employees’ W-2 forms don’t match the government’s records, you may receive a “no-match letter.” Here’s what these letters mean and how to proceed.

Offset expenses for your college student with the dependent tax credit

Aug 19, 2019

Though tax reform eliminated the child tax credit rules for older children, it also added another credit that can help with college expenses.

"We saved one client $700,000 using R&D credits — credits that the company’s previous CPA told them they were not eligble to claim. We stay on top of the latest tax laws to help clients reduce their taxes.”

Mark Patterson, KraftCPAs Tax Services

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