DEADLINES AND PAYMENTS: In the end of March 2020, the IRS announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. The IRS has also said Taxpayers can defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and [...]
If you were not able to attend our 2017 U.S. tax reform presentation with Tariq Dennison of GFM Asset Management and American Pacific Tax on January 22, 2018, here’s a brief summary of the main points we covered: - Individual income tax rate changes beginning in 2018. - Increase in standard deduction and elimination of [...]
Just a friendly reminder, if you need to pay US federal estimated taxes, 2017 4th quarter payment is due on or before January 15, 2018. To help you plan for 2018 and understand the tax law changes, here is a brief summary that will take effect beginning in 2018 under the major piece of tax [...]
Recently our clients have been asking how will Trump’s new tax reform affect their tax situations. As of this posting, it’s important to know that none of the proposals have been put into place yet. On September 29, 2017, at the Mandarin Oriental Hotel in Washington DC, President Donald Trump laid out his proposed tax [...]
Get the latest tax updates here September 2017 We're expanding to help you find the best solutions to handle your US taxes everyday.Here are some important updates: Just a friendly reminder, if you are required to make estimated tax payments, the 3rd quarter payment is due on or before September 15, 2017. Alternatively, payment can be made online via: https://www.irs.gov/payments We've [...]
Happy New Year! Here are some updates about the upcoming 2016 tax filing season. Here is some useful tax information that can help. Keep organized and start securely saving each and every tax form that arrives in your mailbox (both hard copy and soft copies). This can be kept in your filing cabinet at home, as [...]
As the year draws to a close, now is an excellent time to review your current tax planning strategies to ensure they’re still meeting your needs and to develop plans for 2017. It’s also a good time to take advantage of last-minute planning opportunities that could save you money now and in the coming year. [...]
Here is some additional useful information to plan for year-end. Stamp Out Tax Season Stress! Are you ready for tax time? There are a couple of steps you can take now to alleviate some of the stress of filing your return. Plan to get organized early. Begin by putting together a tax folder with [...]
With the 2014 tax season underway, find US tax resources here: 2014 Tax Season Resources.
The IRS has recently implemented some changes with the American Taxpayer Relief Act of 2012 that may affect taxpayers working and living in Hong Kong and abroad beginning in 2013. Some of these changes are: 2013 tax rates up to 39.6% for income over $400,000 single and $450,000 married filing jointly 2013 AGI above $250,000 [...]