Soon after passage of the new tax reform law, the IRS announced that it is developing salary and wage tax withholding guidance to be issued sometime in January, 2018. The IRS said that use of the new 2018 withholding guidelines will allow taxpayers to begin seeing the changes in their paychecks as early as February 2018. Until then, employers and payroll service providers should continue to use the existing 2017 withholding tables and systems.
Today, President Trump signed the Tax Cuts and Jobs Act into law. While the House and the Senate originally had measurable differences in their respective [...]
On Friday afternoon, the combined House and Senate Conference Committee unveiled a reconciled tax bill (The Tax Cuts and Jobs Act) that would significantly overhaul [...]
There is a great scene in the first "Back to the Future" movie in which Michael J. Fox, as Marty McFly, takes over for an injured band member and introduces the tune "Johnny B Goode" to the audience, just a little before it is supposed to show up on the music scene. He tells the rest of the band "This is a blues riff in B, watch me for the changes and try to keep up."
The House Ways and Means Committee have released its first bill of the "Tax Cuts and Jobs Act." While we still may be a ways out of a final bill, PBMares will keep everyone in the non-for-profit world on any changes that will affect them every step of the process.
Tax Cuts and Jobs Act Impacts Businesses and Individuals Congressional Republicans have been working on a bill to simplify the tax code and reduce the [...]
One of the topics talked about all year is how our tax system needs to be greatly improved and just this week, President Trump and [...]
Virginia Announces Amnesty Period to Start September 13. Virginia taxpayers have an opportunity to “come clean with the tax man” as the Virginia Department of [...]
Question: My retirement plan allows me to choose between pre-tax 401(k) contributions or after-tax Roth contributions. Which is better? Answer: Your pre-tax 401(k) withholding is saved in [...]
When it comes to preparing individual tax returns, many individuals wonder what kind of documentation they need to support their charitable contributions. First and foremost, [...]
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