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ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, BY A CLIENT OR ANY OTHER PERSON OR ENTITY FOR THE PURPOSE OF (i) AVOIDING PENALTIES THAT MAY BE IMPOSED ON ANY TAXPAYER OR (ii) PROMOTING, MARKETING OR RECOMMENDING TO ANOTHER PARTY ANY MATTERS ADDRESSED HEREIN.
Author Archives: Carol
Happy New Year!
The Holidays are officially over. Welcome to this week’s blog: Happy New Year! REINFORCING THE BASICS. All of us at McAtee & Associates wish all of you a Happy New Year filled with all the joys and successes, fun and … Continue reading
Posted in Holiday
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Year-end To-do List.
Here’s a what to do before December 31st checklist to help you prepare for upcoming tax return preparation. REINFORCING THE BASICS. Keep in mind that the standard deduction is still increased resulting from the 2017 TCJA; therefore, you may or … Continue reading
Posted in Accounting, Business Taxes, Individual Taxes, Taxes
Tagged Business taxes, Individual Taxes, S-Corp Shareholder
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Hitting Those Year-end Numbers-Business Taxpayers.
If you’re thinking 2019 profit has resulted in a bit more taxable income than you would like here are a few things you can do to do a bit of business tax planning. You can also call Carol and make an … Continue reading
Posted in Business Taxes, Christmas, IRS, Tax Planning, TCJA
Tagged Bonus Depreciation, Carol McAtee & Associates, De Minimis Safe Harbor Election, Planning Tip, Section 179, Tax Planning, TCJA
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Hitting Those Year-end Numbers-Individual Taxpayers.
It’s probably about time to start thinking about the 2019 income tax return especially if you want to do a bit of 1040 planning. You can also call Carol and make an appointment. She’d love to see you. And it … Continue reading
Posted in Individual Taxes, Tax Planning, Taxes
Tagged American Opportunity Tax Credit, Coverdell, Deductible, Health Savings Accounts, Lifetime Learning Credit, Planning Tip, Retirement contributions, Student Loan Interest, Tax Credits
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Don’t Talk Trump II! Let’s Talk Turkey.
It really is unimpeachable. The holidays are here. Turkey. Football. Family. Santa Claus. Whoa! Let’s not get ahead of ourselves. Let’s get through Thanksgiving. This week we are not talking accounting, not even talking tax. Welcome to this week’s blog: … Continue reading
Posted in Holiday, Thanksgiving
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Step by Step – The 2020 W-4
Updated 12/17/19. The Tax Cuts and Jobs Act, enacted in late December of 2017, wreaked havoc on Form W-4, Employee’s Withholding Allowance Certificate. The TCJA radically changed employee withholding by doubling the standard deduction, modifying tax rates and tax brackets, … Continue reading
Posted in General Interest, Individual Taxes
Tagged paycheck, W-4, Withholding
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Getting Schooled – Maximizing Education Tax Credits
Pay tuition. Get tax credits. $2,500 here; $2,000 there. Education credits are seemingly straightforward but are they as straightforward as they seem? Not really and not always. Shameless plug. We just make it look straightforward. REINFORCING THE BASICS. The American … Continue reading
Posted in Individual Taxes
Tagged American Opportunity Tax Credit, AOTC, Carol McAtee, Carol McAtee & Associates, Education Credits, Lifetime Learning Credit, LLC, The Chainsmokers, Tyra Banks
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Getting Paid to Reduce Your Carbon Footprint – Residential Energy Credits.
Getting Paid to Reduce Your Carbon Footprint – Residential Energy Credits. REINFORCING THE BASICS! Nuclear, bad. Fossil fuels, bad. Big carbon footprints, bad. Our government encourages renewable or sustainable energy as a means for energy security, job creation, climate control, … Continue reading
Posted in Individual Taxes, Taxes
Tagged McAtee & Associates, Qualified Energy Efficient Property, Residential Energy Credits, solar, solar panels
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Getting To That 20%
Perhaps the biggest change to your business and individual taxes is the Section 199A, Qualified Business Income Deduction (QBID). Your complimentary trip down Memory Lane (aka link to a Carol McAtee archived blog) – TCJA and What in the World … Continue reading
Posted in Business Taxes, Section 199 A, Taxes, TCJA
Tagged 20% business deduction, Sec 199A, Taxes, TCJA
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Playing With Building Blocks
HERE’S WHAT’S UP! The “Post Card 1040” is here! Except it’s not a post card. It is a “building block”. It’s smaller. But not much smaller. Because it’s only on half the page. It’s shorter. But not so much. Because … Continue reading
Posted in Uncategorized
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