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Satty, Levine & Ciacco, CPAs, P.C. Blog

6 Common Income Tax Filing Myths Debunked

Posted by Tom Hallissey on Mar 27, 2019 10:00:00 AM

Did anyone ever tell you that married people must prepare joint income tax filings? If so, you are not alone. This common falsehood and other tax myths are frequently repeated around April 15. Before filing your return, learn the real facts about income tax.

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Topics: Tax Season

When Hiring a Local CPA Makes Financial Sense

Posted by Tom Hallissey on Mar 13, 2019 10:00:00 AM

Of course, you don’t have to be a certified public accountant to file an income tax return. But, there are many times when it pays to have a local CPA on your side. Whether you are newly married or just opened a business, you have a lot to gain by hiring an accounting firm.

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Topics: Tax Season

How to do Income Tax Preparation Right in 2019

Posted by Tom Hallissey on Feb 28, 2019 10:00:00 AM

With April 15 closing in, it’s time to focus on income tax preparation. Even though you have probably done it before, there are a slew of new rules on the books this year. To help guide you through tax season, Satty, Levine & Ciacco has prepared a list of basic tips for personal income tax filers.

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Topics: Tax Season

Tax Changes for 2019: What you Need to Know Before Filing

Posted by Tom Hallissey on Feb 15, 2019 10:00:00 AM

With the Tax Cuts and Jobs Act now in full effect, there may be several key changes to your tax return preparation. From new tax brackets to a higher standard deduction, the law may increase or decrease the size of your refund check. With the deadline clock ticking down, it’s not too late to learn everything you need to know about the tax changes for 2019.

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Topics: Tax Season

How (and Why) 2019 Tax Refunds may Surprise Everyone

Posted by Tom Hallissey on Jan 17, 2019 10:00:00 AM

A lot has changed in a year. With new income tax laws fully in effect, 2019 tax refunds are a hot topic of discussion. While some people’s refund checks are expected to increase substantially, others may not be quite so lucky. In fact, experts predict that millions of Americans could be in for a surprise.

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Topics: Tax Season

4 Tips for Avoiding Penalties on Estimated Tax Payments

Posted by Tom Hallissey on Nov 14, 2018 10:00:00 AM

Lately, the IRS has been issuing more penalties for underpayment of estimated taxes. From 2010 to 2015, there was a 40 percent jump in the number of people who paid these fines. As a result, the IRS is urging all taxpayers to educate themselves about estimated tax payments.

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Topics: Tax Season

IRS Warns Virtual Currency Transactions must be Reported

Posted by Tom Hallissey on Mar 28, 2018 10:00:00 AM

With tax day just weeks away, the IRS has issued a stern reminder that any income from virtual currency transactions must be reported on your tax return. The government views these types of transactions like any other exchange of property. Taxpayers who do not properly report digital currency transactions could face an audit and be held liable for penalties and interest.

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Topics: Insider, Tax Season

How to meet the Tax Filing Deadline without Stress

Posted by Tom Hallissey on Feb 27, 2018 10:00:00 AM

Every year, millions of Americans wait until the last-minute to submit their tax returns. As a result, many people undergo unnecessary stress in April. Before the tax filing deadline sneaks up on you again, use these tips to help you submit on time.

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Topics: Tax Season

Professional Advice for how to Maximize Tax Savings

Posted by Tom Hallissey on Feb 13, 2018 10:00:00 AM

Although many Americans simply take the standard deduction, there are many tips and tricks that professional accountants recommend to clients to increase tax savings. From saving for retirement to documenting charitable contributions, these strategies can put more money back in your pocket.

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Topics: Tax Season

2017 Federal Income Tax Brackets: What you need to Know

Posted by Tom Hallissey on Jan 17, 2018 10:00:00 AM

In order to prevent people from being pushed into higher federal income tax brackets because of inflation, the IRS adjusts more than 40 tax provisions every year, including income thresholds, deduction amounts and credit values.

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Topics: Tax Season

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Since 1949, S,L&C has provided professional accounting and business advisory services from New York to California. Now, our blog contains some of the latest news, trends and tips to help you prosper financially.  

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