News Articles

23

January

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ATA Named Top Tax Firm by Forbes

Alexander Thompson Arnold PLLC (ATA) is humbled to be recognized as a top tax firm in America. Research company, Stratista, worked with Forbes to compile the list of leading organizations, which only included 227 firms. This award displays ATA’s passion to work diligently with clients on their taxes to amplify their business. For more information … Continued

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09

January

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Internal Revenue Service Progress Update – Fiscal Year 2019

The IRS issued its 2019 annual report, which gives an overview of the tax agency’s progress in taxpayer service, compliance and support. For example, the report focuses on results from its Criminal Investigation department and efforts involving civil enforcement. Ongoing compliance areas, including micro-captives, syndicated conservation easements and virtual currency, are also detailed in the … Continued

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31

December

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Family & Education tax planning 

Watch the Family and Education Tax Planning video here.   Family & Education While the Tax Cuts and Jobs Act of 2017 has reduced or eliminated many tax breaks for the next several years, most child and education-related breaks remain intact or even enhanced. Child Credit  For each child under age 17, you may be … Continued

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31

December

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The SECURE Act

In addition to a year-end funding bill, lawmakers finalized the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The retirement bill includes expansion of the automatic contribution to savings plans to 15% of employee pay, allows some part-time employees to participate in 401(k) plans and raises the age limit for IRA contributions from age … Continued

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30

December

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Individual Deductions and Updates

Watch the Individual Deductions and Updates video here.  What’s happening with deductions in 2019? The standard deduction for separate filers is $12,200 and for joint filers, it’s $24,400. Itemized deductions are more beneficial if taxpayers ‘bunch’ deductions into one year. The itemized deductions that may be able to be shifted from year-to-year are real estate … Continued

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