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IRS announced start dates for 2025 E-filings

January 27, 2025

January 16, 2020

Meals and Entertainment Deductions Under TCJA

The Tax Cuts and Jobs Act changed rules on the deductions of meals and entertainment expenses. Click HERE for more information.

January 18, 2020

Charitable Contribution Limitations And Substantiations

Charitable contribution is reported on Schedule A as itemized deductions. Before 2018, individual’s itemized deductions were reduced by 3% of the amount adjusted gross income (AGI) exceeded certain threshold amounts. This phase-out of itemized deductions was eliminated by the 2017 tax reform (TCJA), so it doesn’t apply 2019.

The TCJA does NOT eliminate the AGI percentage limitations for the allowed charitable contribution deductions. However, the TCJA raised the AGI percentage limitation to 60% for cash contributions to 50% charities for tax years 2018-2025. The other limits of 50%, 30%, and 20% remain unchanged.

In this article, we will briefly discuss the deductible charitable contributions, limits on the charitable contribution and substantiations on cash and noncash donations. READ MORE.

January 6, 2020

Options For Late Filed International Informational Tax Returns and Foreign Source Income

On June 18, 2014, IRS announced major changes to its offshore voluntary compliance programs, and offers new options to help taxpayers to comply with their U.S. tax obligations.

In September 2018, IRS closed Offshore Voluntary Disclosure Program (OVDP). Click HERE to see the options available if you failed to file an international informational return or to report the foreign sourced income.

January 6, 2020

Extenders, Changes on 529 Plans and Kiddie Tax

The Further Consolidated Appropriations Act, 2020, was signed into law on Friday December 20, 2019. The Act Included the tax credits extended to 2020, changes on 529 plans and kiddie tax. READ MORE.

January 6, 2020

Changes on Pension And IRA 529 Under SECURE Act

The SECURE Act provides more opportunities for the individual taxpayers to make contributions to their retirement account, such as increased age for the IRA contributions and RMD, post-death RMD rules and etc. , increased and also include some changes on the employer retirement plan, such as, increased credit, new enrollment credit, 401(k) safe harbor simplified and etc. READ MORE.

January 5, 2020

Tax Law Changes For Individuals and Small Business Owners Under TCJA

The Tax Cuts and Jobs Act , which was signed into law in 2017 extensively changed the tax provisions for the individuals and sole proprietors. Click HERE for a summary of changes that will affects your 2019 tax return.

Brianna B. Fan CPA, LLC

IRS announced start dates for 2025 E-filings

January 16, 2020

Meals and Entertainment Deductions Under TCJA

January 18, 2020

Charitable Contribution Limitations And Substantiations

January 6, 2020

Options For Late Filed International Informational Tax Returns and Foreign Source Income

January 6, 2020

Extenders, Changes on 529 Plans and Kiddie Tax

January 6, 2020

Changes on Pension And IRA 529 Under SECURE Act

January 5, 2020

Tax Law Changes For Individuals and Small Business Owners Under TCJA

Brianna B. Fan CPA LLC -- US Expatriate Tax Services

1399 Lane DingXiang Rd, Pudong, Shanghai China
10630 Little Patuxent Parkway, Columbia, MD 21044

Brianna B. Fan CPA, LLC

IRS announced start dates for 2025 E-filings

January 16, 2020

Meals and Entertainment Deductions Under TCJA

January 18, 2020

Charitable Contribution Limitations And Substantiations

January 6, 2020

Options For Late Filed International Informational Tax Returns and Foreign Source Income

January 6, 2020

Extenders, Changes on 529 Plans and Kiddie Tax

January 6, 2020

Changes on Pension And IRA 529 Under SECURE Act

January 5, 2020

Tax Law Changes For Individuals and Small Business Owners Under TCJA

Brianna B. Fan CPA LLC -- US Expatriate Tax Services

1399 Lane DingXiang Rd, Pudong, Shanghai China10630 Little Patuxent Parkway, Columbia, MD 21044

1399 Lane DingXiang Rd, Pudong, Shanghai China
10630 Little Patuxent Parkway, Columbia, MD 21044