Maybe you shouldn’t be pacing the floor at night! Are these misconceptions keeping you up? 1. Alimony is no longer deductible for anyone. Many folks believe that after the Tax Cuts and Jobs Act (TCJA) of 2017 that alimony received can no longer be included in income, and alimony paid is no longer deductible from
IRS Will Not Press Taxpayers for Penalties
The IRS recently announced it wouldn’t penalize taxpayers whose tax withholding and estimated tax payments fell short last year because of changes in the withholding tables under Tax Reform. The relief is designed to help taxpayers who weren’t able to properly adjust their withholding and estimated tax payments to reflect an array of changes brought
Meet Your New 1040
The good news is the IRS has released the long awaited “postcard” size Form 1040. The bad news is, it has six related tax schedules. Still you have to appreciate the attempt to simplify the tax preparation process. The six related schedules may or may not need to be filed along with the Form 1040,
DOES MILEAGE MATTER ANY MORE UNDER TAX REFORM
DOES MILEAGE MATTER ANY MORE UNDER TAX REFORM? The Internal Revenue Service has issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The IRS attempts to make it easier for the average person to file business-use deductions for auto travel,
Have Travel Plans in 2019 Better Pay Your Back Taxes
Do your travel plans involve visits to places that require a valid passport? If so you had better not be in arrears with the IRS! The IRS has stepped up its game to collect back taxes. Under the FAST Act, the IRS is required to provide a list of people who owe back taxes to
What To Consider If You Are Considering Mid-Level Non-Physician Providers
Non-Physician Providers would seem like the perfect prescription for a busy practice to cure patient overflow and long wait times while increasing practice income, however it can take time to integrate the NPP into your practice and add to your documentation worries as well as billing and coding headaches. Mid-Level providers like Physician Assistants and
Incident-to Billing and Non-physician Practitioners
Incident-to Billing and Non-physician Practitioners By Guest Contributor Jean Acevedo, LHRM, CPC, CHC, CENTC, AAPC Fellow President and Senior Consultant of Acevedo Consulting Incorporated Physicians have been billing under Medicare’s incident to benefit for years; that’s how they have been paid for the nurse’s injections, infusion services and other physician services personally provided by a
Positively Family Friendly Tax Provisions
Positively Family Friendly Tax Provisions There is a lot that working Moms and Dads need to know about getting Uncle Sam to help with child care. Time to learn about the Child Tax Credit, the Child Care Tax Credit, & Dependent Care FSAs! They may sound alike, but they are all different, with different rules
The Tax Clock Is Counting Down – Time For Year End Tax Planning
The Tax Clock Is Counting Down – Time For Year End Tax Planning! It’s been almost a year now that the Tax Cuts and Jobs Act has ushered in an era of Tax Reform. Even though the 2019 tax filing season may be delayed while the IRS plays catch up to the provisions and regulations
2019 Social Security Update: From COLAs to Tax Calculations Be Cautious and Careful
2019 Social Security Update: From COLAs to Tax Calculations Be Cautious and Careful November is here and that means the Social Security Administration has announced its changes to one of the most important social programs in America. Here’s what you need to know now about Social Security changes ahead for 2019, either for yourself, your
