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The $10,000 Federal Tax Deduction Limit on Payments for State & Local Taxes

By |May 31st, 2018|

The Treasury Department and the IRS intend to propose regulations addressing the federal income tax treatment of certain payments made […]

Considerations for Taxpayers Who Need to Amend a Return

By |May 23rd, 2018|

Taxpayers who discover they made a mistake on their tax returns after filing can file an amended tax return to […]

Missed the 2017 tax return filing or payment deadline? Here is what you need to do

By |May 15th, 2018|

The 2017 federal income tax-filing deadline has passed for most people who did not extend the filing date for the […]

How Long Should I Maintain My Tax Records?

By |May 14th, 2018|

I am often asked, “how many years of records do I need to keep?” As a general rule, I […]

How Does the TCJA Effect the 2018 Tax Year Inflation Adjustments

By |April 21st, 2018|

The Internal Revenue Service has updated the tax year 2018 annual inflation adjustments to reflect changes from the Tax Cuts […]

IRS Audit Rates Continue Downward Spiral

By |April 21st, 2018|

For years, IRS audit rates have been declining as Congress has cut the IRS budget and its workforce has shrunk. […]

Small Business Employers: Are Your Workers Classified Correctly?

By |January 12th, 2018|

McFarlane Law-A Tax Law Firm provides step-by-step guidance to ensure employees are classified correctly and that your employer clients are […]

IRS declares that 2018 Property Taxes Must Be Assessed and Paid in 2017 to Claim a Full Deduction

By |January 5th, 2018|

The IRS issued IR-2017-210 saying property taxes must be assessed and paid before 2018 in order to claim the deduction […]

ESTATE PLANNING UNDER THE TAX LAWS – DO YOU NEED A TRUST OR ESTATE PLAN ANYMORE?

By |January 3rd, 2018|

There is still a need for trusts and estate plans, despite that the Unified Gift and Estate exemption is now […]

Interest Rates Will Remain the Same for the First Quarter of 2018

By |December 8th, 2017|

The Internal Revenue Service (IRS) has updated its applicable federal rates (AFRs) used for a variety of IRS calculations, such […]