Aegis Tax Defense, LLC

01/28/2019

Today's the big day, everyone. The IRS begins accepting your 2018 returns today. Here's what you need to know for this year's filing...

01/25/2019

While it is good news that tax refunds will go out despite the government shutdown, the bad news is that taxpayer support from the IRS will be next to nothing. For self-filers facing an entirely new tax code, this is not the year to go it alone. This year it will be vital to consult a tax professional to ensure your taxes are filed properly with all of the new credits and deductions you are eligible to *legally* receive.

Tax filing date? Check. Expected refund? Check. The IRS said it will take income tax returns on Jan. 28 and give taxpayers their refunds, but the shutdown could complicate other essential areas of filing season.

01/24/2019

The time has come to file your 2018 taxes (well, Monday is the official day). If you aren't sure if you need to file this year -- find out. You will pay the price for unfiled returns eventually.

This is what you'll need to gather for your tax appointment. Certain deductions went away this year, and some that you might be used to as well. This list has changed a little from past years, and we've notated additional changes coming down the pike.

01/23/2019

Put stamps on your shopping list this week. Stamp prices go up to 55 cents (currently 50 cents) on January 27th!

The Postal Service lost $3.9 billion in 2018, attributing the losses to drops in mail volume and the costs of pensions and health care. It marked the 12th year in a row the agency reported a loss despite growth in package shipping.

01/21/2019

Amidst the frigidity of today's cultural and political climate, acting on this decades-old advice may be the key to welcoming in the first warm breeze of change.

"We must develop and maintain the capacity to forgive. He who is devoid of the power to forgive is devoid of the power to love. There is some good in the worst of us and some evil in the best of us. When we discover this, we are less prone to hate our enemies."

- Martin Luther King, Jr.

01/18/2019

Because of the new Tax Cuts and Jobs Act, the IRS announced this week that they are making broader allowances this year for those who under-withheld their 2018 taxes. Normally the underpayment penalty is waived for those who paid at least 90% of their tax obligation during the year, but this year that threshold has been lowered to 85%.

For those who make estimated tax payments (like the self-employed) and those facing an unexpectedly large tax bill, this is very good news. Read more here: http://bit.ly/2DhyhWt

01/17/2019

If you know you're going to owe the IRS this year an amount that you can't pay...

You should still file your tax return. If you don't, you'll get hit with a failure to file penalty (plus interest) and have to pay them even more.

01/16/2019

When faced with a massive tax bill that you can't pay, consider this:
It might not be accurate.

Some tax professionals don't always catch everything. Often, we can find missing deductions, credits, or other filing options that reduce the liability for taxpayers by reviewing past returns. Taking a good look at past tax returns may reveal that you owe a lot less than you thought.

In this case, it's probably better to simply contest the taxes owed. This is where we come in.

01/15/2019

Mark your calendars with these important dates for the upcoming tax filing season.

*April 17th is the tax deadline for residents of Maine and Massachusetts.

01/11/2019

Would you do us a favor?

As conversation turns to taxes in the next couple of months with your friends, coworkers and family, we'd be grateful for your recommendation. The beauty of our work is that once we've helped our clients resolve their tax issues, they don't need us anymore! So we're always looking to help new folks year-round. Thank you (in advance) for your referral. :)

01/10/2019

We help a lot of business owners work through their various tax problems and questions, and many of them have been wondering about the new 20% deduction for qualified business income.​

These questions will help you determine that answer for your business.

01/08/2019

You've likely heard us mention often the importance of solid documentation when dealing with the IRS. Here are some of the top areas to be particularly diligent about when tracking your income, expenses and deductions.

Here, CPA Cari Weston details eight potential triggers that will increase your chances of being audited this tax season.