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Here’s the New 2019 W-4 Form!

2019 w4

The IRS has released the W-4 form for 2019

Due to the Tax Cuts and Jobs Act, the IRS has updated the W-4 to reflect the many tax changes. You may be wondering if there will be major differences.

Here’s the breakdown

Right off the bat, when comparing the 2018 W-4 and 2019 W-4, it looks similar. However, there are changes in income thresholds along with calculations. This also applies to changes from tax credits to allowance tables for two-earners/multiple job holders.

Personal Allowances Worksheet

To calculate your allowances, the first sheet you see is the Personal Allowances Worksheet. Typically, taxpayers with a simple tax situation who do not need to itemize, have no dependents and only work only one job just fill in this first sheet and leave everything else blank. Continue reading “Here’s the New 2019 W-4 Form!”

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How to File Your 2018 Taxes & Important Tax Changes

taxes 2018

Are you starting on your 2018 tax return right now?

Your tax return may seem a bit off when you’re filing. The reason for this is the Tax Cuts and Jobs Act (TCJA) changes.

For on the go taxpayers and those who just need a break.

If you have a hectic schedule or just want to relax at home after a long day, filing your taxes online could be the best option for you. No need for standing in long lines for a tax accountant.

All you need to do is follow these few steps:

  1. Create an account
  2. Enter your tax information (which is conveniently available by clicking user-friendly tabs for your personal information, income, deductions, and credits)
  3. Submit your account for a PDF of your return to paper file to the IRS and/or state!

We’ll prepare your tax return as soon as possible. Keep in mind, taxpayers who have a refund for the 2018 tax year are not subject to any penalties at any point they decide to file. Just make sure you file within three years of the due date of your return to claim your refund. In this case, claim your refund by April 15, 2022.

However, taxpayers with a tax due to the IRS should have filed by the 2018 tax year deadline; April 17, 2019 to avoid tax penalties.

Check out the breakdown of the tax changes this year.

The following are no longer available for the 2018 tax year: Continue reading “How to File Your 2018 Taxes & Important Tax Changes”