Categories for General News and Information

Sep
10
2019

Expenses that teachers can and can’t deduct on their tax returns

As teachers head back to school, they often pay expenses for which they don’t receive reimbursement. Fortunately, they may be able to deduct some of them on their tax returns. You don’t have to itemize your deductions to claim this “above-the-line” tax break. For 2019, educators can deduct up to $250 of eligible expenses that weren’t reimbursed. Eligible expenses include books, supplies, computer equipment, software, other classroom materials, and professional development courses. To be eligible,

Sep
10
2019

Treasury and IRS issue proposed regulations and provide relief for certain tax-exempt organizations

IR-2019-150, September 6, 2019

WASHINGTON — The Internal Revenue Service today issued proposed regulations clarifying the reporting requirements generally applicable to tax-exempt organizations.

The proposed regulations reflect statutory amendments and certain grants of reporting relief announced by the Treasury Department and the IRS in prior guidance to help many tax-exempt organizations generally find the reporting requirements in one place.

Among other provisions, the proposed regulations incorporate the existing exception from having to file an annual return for certain organizations that normally have gross receipts of $50,000 or less,

Sep
03
2019

2019 Reader’s Choice Awards

Thank you for your votes and support! For the 2nd year in a row, HBL CPAs is a winner in the 2019 Reader’s Choice Awards. We will continue to work hard to give you the service you have come to expect.