Blog posts from: 2018
How to enhance retirement planning under new tax laws
A recent article from CNBC outlined several ways taxpayers can improve retirement planning under new the tax laws. Here’s an overview: Move to a low-tax state. New caps on state and local tax deductions make retirement in high-tax, blue states...
Income tax ramifications of Bitcoin, Ethereum, Ripple Litecoin and other cryptocurrencies
Cryptocurrency is an electronic medium of exchange; Bitcoin, Ethereum, Ripple, and Litecoin have become some of the most widely circulated digital currencies, and the rapid growth of the market has invited both experienced HODLers and new speculators to invest in...
Should you revisit your decision to capitalize carrying costs?
With the Tax Cuts and Jobs Act taking effect in 2018, it may make sense to revisit your decision to capitalize real estate taxes, mortgage interest and other carrying costs related to investment property. For background, a taxpayer can capitalize...
ShindelRock has a fresh new look!
Just in time for tax season, we've spruced up the ShindelRock website and added more content for our clients and prospective new team members. Check it out and let us know what you think! www.shindelrock.com
SCAM ALERT: New Refund Scam using deposit and reclaim phish
** ShindelRock has already had a client solicited with this type of scam! Fortunately he called us before he deposited the mysterious check from the IRS. Always confirm with your ShindelRock tax professional if you receive unexpected communications or money of any sort...
IRS announces 2018 pension plan limitations; 401(k) contribution limit increases to $18,500 for 2018
The IRS recently announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018. Highlights of Changes for 2018: The contribution limit for employees who participate in 401(k), 403(b), most 457 plans,...
Meet the SR Team: Kerry McGuirk
Meet Kerry McGuirk, one of the ShindelRock interns for 2018 tax season! What are you doing during your internship at ShindelRock? What do you hope to come away with in May? Learning how a CPA Firm operates, preparing taxes for...
Alert: IRS issues new tax withholding tables
Attention to all employees! The IRS issued its new tax withholding tables. All those receiving a paycheck will start seeing a change in their net pay this month. If you see a significant change (good or bad) to your net...
Budget deal revives expired individual tax breaks
Last week, President Trump signed a bill that provides tax breaks to homeowners, students and environmentalists. This includes tax breaks for mortgage insurance premiums, higher-education expenses, energy-efficient home-improvement projects and other items that had expired at the end of 2016,...
Is repainting the exterior of your residential rental property deductible?
As spring approaches, you may be wondering if repainting the exterior of your residential rental property is deductible. By itself, the cost of painting the exterior of a building is generally a currently deductible repair expense because merely painting isn't...