DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...
Mike's weekly post usually concentrated on tax saving strategies.

Alimony Tax Changes Require Planning: Law change to have dramatic tax impact in 2019 and beyond

The taxation of alimony will change drastically starting in 2019. Here’s what you need to know:

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Summer's a time for vacations and tax planning

Don't let the warm weather go straight to your head. Make a point to review your tax plan and make effective changes while you still can this year.

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Reminder: Second Quarter Estimated Taxes Due - Now is the time to make your estimated tax payment

If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The second quarter due date is now here.

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6 ways to avoid a credit card catastrophe

Do you feel like your credit card spending is out of control? Follow these six ways to lead you off the path of financial catastrophe.

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2019 Health Savings Account Limits: New contribution limits are on the horizon

The savings limits for the ever-popular health savings accounts (HSA) are now set for 2019. The new limits are outlined here with current year amounts noted for comparison.

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Don't forget to document your spring cleaning donations

Don't forget to document your spring cleaning donations

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Don't get hooked by a phishing scam

Don't get hooked by a phishing scam

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Considering divorce? Think about your tax filing status

If you're thinking about divorce, you should also be considering what tax filing status you should choose. Here's why.

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Make Your Child's Summer Break a Tax Break

As a busy working parent, you may be concerned about what activities are available for your kids this summer. There may be a solution that’s also a tax break: summer camp!

Using the Child and Dependent Care Credit, you can be reimbursed for part of the cost of enrolling your child in a day camp this summer.

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Additional refunds result from FY 2017 audits

Additional refunds result from FY 2017 audits

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Home equity loan interest deductibility has changed

Home equity loan interest deductibility has changed

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Your refund check is coming — Watch out

Your refund check is coming — Watch out

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How to get your marriage off to a good financial start

Don't say "I do" until you've said a lot more to your spouse about finances. Here's a helpful guideline.

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Leveraging Your Children's Lower Tax Rate: One of the best places for parents to look for tax savings

If you're a parent, your dependent children can be a source of tax savings. There are the well-known provisions in the tax code such as the Dependent Child Care Credit and the Child Tax Credit, but there's also an opportunity to shift some taxable income to your children.

Shifting income to your children works because the tax rate increases as your income rises. This provides an incentive to shift income to your lower-earning dependent children. Here's how to make it work:

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What's the average tax refund check?

What's the average tax refund check?

The IRS returned more than $323 billion in tax refunds to taxpayers last year.

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The New World of Charitable Deductions

Your charitable contribution deductions are still a great tax savings tool, but they may require more planning following the passage of the Tax Cuts and Jobs Act (TCJA) last year.

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Don't fall for the "tax-deduction" charity scam

Don't fall for the "tax-deduction" charity scam

The IRS is warning taxpayers about fake charitable organizations tricking people into donating to receive tax deductions.

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Quarterly estimated tax payments just got trickier

Quarterly estimated tax payments just got trickier

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Audit Rates Decline for Sixth Year in a Row But don't get complacent...

The IRS reported audit rates declined last year for the sixth year in a row and reached their lowest level since 2002. That’s good news for people who don’t like to be audited (which is everybody)!

But don’t get complacent. A closer look at the IRS data release reveals some audit pitfalls you should know about. Here is what you need to know:

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2nd quarter interest rates increase

2nd quarter interest rates increase

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© 2006-2018 Michael DiSabatino, CPA. All Rights Reserved.