Many Massachusetts residents work outside the country. As such, they can take advantage of certain tax rules to save money, but it requires filing their personal income tax returns in a specific manner. However, without the proper assistance, it could be easy to make...
Month: October 2019
Failing to consider the IRS in retirement could cost dearly
Most people who retire do so within a budget. Like numerous others across the country, many Massachusetts residents begin planning for their retirement as soon as they can, but that could be at different stages of their lives, so the budgets will be different. One...
Will the IRS accept returns with certain tax breaks for 2019?
With all the changes to the Internal Revenue Code that took effect in the 2018 tax year, it may not surprise Boston residents that more changes could come for 2019. Not all tax breaks survive through to another year, and this year may be no exception. As the country...
Stocks in foreign corps come with 2 unhappy tax surprises.
The adage “the Devil is in the details” holds true when it comes to filing taxes. This was particularly true when it came to filing taxes in 2018 because this was the first year the Tax Cuts and Jobs Act (TCJA) went into effect.What did tax professionals...
Massachusetts and the IRS treat Social Security differently
After working for decades, many people can begin drawing Social Security benefits. While it would make sense for these benefits not to be taxed, the IRS still classifies them as taxable income. Fortunately, the state of Massachusetts is among 37 states who believe...
Taxpayers may be innocent victims in tax crimes
Like other people across the country, when Massachusetts residents do not know how to do something, they often turn to someone who does. For instance, fixing an electrical problem, treating an illness and even preparing their tax returns often require some help....