TSBAS Accounting Bookkeeping Payroll Tax Preparation
  • Home
  • Blog
  • Learn More
    • About >
      • Meet the Team
      • Reviews
    • Services >
      • Tax Debt Relief
      • Accounting & Bookkeeping
      • Tax Services
      • Payroll Services
      • Seminars & Training
      • QuickBooks Services
      • Specialized Services >
        • Spa Bookkeeping
        • Services for Real Estate Agents
  • Schedule
  • Contact Us
  • Get Updates
  • Service Requests
    • Payroll Service Quote Request
  • What you should know - ID.me
  • Links to Important Things
  • Home
  • Blog
  • Learn More
    • About >
      • Meet the Team
      • Reviews
    • Services >
      • Tax Debt Relief
      • Accounting & Bookkeeping
      • Tax Services
      • Payroll Services
      • Seminars & Training
      • QuickBooks Services
      • Specialized Services >
        • Spa Bookkeeping
        • Services for Real Estate Agents
  • Schedule
  • Contact Us
  • Get Updates
  • Service Requests
    • Payroll Service Quote Request
  • What you should know - ID.me
  • Links to Important Things

Living with Tax Reform

1/10/2018

0 Comments

 
 ​Often throughout the year when I write about taxes, I know that many people don’t really want to hear about such things. I keep doing it, though, because I know that if I bring up topics that someone is worried about, we can help them. It may not be for everyone, but it is very important for someone. Lately, however, it seems that everyone is thinking and talking about taxes.
I can thank Congress for that as it passed the Tax Cuts and Jobs Act at the end of last year, just before people have to start thinking about taxes as we enter filing season. That combination has been a type of perfect storm that has raised so many questions.  I don’t want to spend my time this week answering any specific questions, but I did want to address the situation in general.
First, if you feel confused by any of this, that is okay. One of the reasons people do not always enjoy thinking about taxes, after all, is that they are complicated. So sure, the recent legislation is complicated, but taxes have always been so. It is not as if a new world has been established that you will not be able to navigate. (And you know someone who can help you get through, too, don’t you?)
Second, know that all the new rules do not apply to the taxes you will soon be filing for 2017. Anything you did last year to keep yourself in the position you wanted to be in when it came to taxes will still have been good moves. If you are worried about how any new rules will affect you in the future, however, let’s talk. It is still January, so we have time to plan in ways that will have you where you want to be under the new rules.
Last, if instead you find yourself in a position where you have not paid much attention to the whole situation, that can be okay. Through all of this, the fact that many people will experience minimal impact can be lost, but do not ignore it out of fear and anger. When looked at through partisan eyes, some think the new act is the path to prosperity, and others believe it is sending us to ruin. If you look at it through practical eyes, however, it just means there are new rules governing what your tax obligation will be.
The latest act has involved lots of changes, but it did not institute a wholly new system. You have made it through the tax system in the past, and you will make it through again. There is no new standard that is going to put anyone in a position where they can no longer meet or understand their obligations.
This does not mean that everyone needs to like the fact that this legislation passed, but all now must follow it. Anger and fear will only clouds things as we do so. We have been here for you before, when taxes could be a complicated and confusing mess, and we remain here for you now, when taxes can still be a complicated and confusing mess.

To ensure we don't make the folks at the IRS ornery, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

0 Comments



Leave a Reply.

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017

    RSS Feed

    Categories

    All
    Balance
    Bookkeeping
    Business
    Payroll
    Tax
    Tax Prep
    Tax Return
    Tax Scam

    View my profile on LinkedIn
Website by Odeh Media Group
Copyright ©2023 TSBAS.com, All Rights Reserved
The Small Business Accounting Solution, Inc
50 South 1st Avenue, Coatesville PA 19320
(844) 208-2937