The 2018 Schedule D Tax Worksheet in the Instructions for
Schedule D (Form 1040) contained an error. The tax calculation did not work
correctly with the new TCJA regular tax rates and brackets for certain Schedule
D filers who had 28% rate gain (taxed at a maximum rate of 28%) reported on
line 18 of Schedule D or unrecaptured section 1250 gain (taxed at a maximum
rate of 25%) reported on line 19 of Schedule D.
We are pleased and proud to announce that Coleen Krogen, Managing Partner, received the Accounting Award at the 2018 University of Arizona Eller College of Management’s Ordinary Women Doing Extraordinary Things Networking Tea held last month.
This annual networking tea recognizes and celebrates both prominent women leaders in the Tucson community and top female Eller students. Held at the historic Arizona Inn, it provides a unique opportunity for students to network with successful local business women and acquire some practical “how-to” advice,
The countdown has started……
HBL showing their holiday spirit dressing for the season. We would like to wish every a Happy and Safe Holiday.
Please note that we will be closed:
Monday, December 24, 2018 and
Tuesday, December 25, 2018
We will resume our regular office hours on Wednesday, December 26, 2018.
HBL donated a truck bed full of gifts to Emerge! Center Against Domestic Abuse for their Holiday House Donation project. HBL matched what employees donated for a total donation of $1,619.28.
We wish all recipients a very happy holiday season and thanks to Emerge for hosting this wonderful event.
There are various tax credits offered through the State of Arizona that support local nonprofits and (summarily) redirect what would be your Arizona tax dollars to these nonprofits. This article addresses the tax credits available to individual tax return filers, with dollar limits that vary based on your filing status. The first four (4) credits are non-refundable and provide a dollar-for-dollar credit towards your Arizona income tax liability. If your total tax credit contributions exceed your tax liability,
Additional IRS guidance on virtual currencies is necessary, according to the House Ways and Means Committee. In a letter to the IRS, committee members questioned the IRS on an uptick in enforcement actions being taken against holders of virtual currencies without the agency issuing additional guidance. The letter referred to several “robust enforcement actions on a number of fronts.” It cited the authority to seek the records of some 500,000 Americans who held virtual currencies between 2013 and 2015.
To download a PDF version of the below post, please click here:
2017 TCJA Summary and Analysis
**With the recent changes in tax law, we are posting the below as a summary and analysis that we hope will aid in understanding some of the changes in the new tax law that was passed on December 22, 2017. Please note that while efforts were made to assure the accuracy of the below article,
IRS Warns of Tax Scam with Fake W-2 Forms http://bit.ly/2n3aVeR