The Tax Cuts & Jobs Act of 2017 (TCJA) drastically changed tax rules for American families. Among the most impactful reforms: the elimination of the dependency exemption for children starting in the 2018 tax year. Previously a key point of contention for divorced or separated parents, the dependency exemption is now valued at $0. This change, however, does not apply … Read More
Clarifying the changes to the 2018 child tax credit phase out
Titanic shifts in the United States tax code continue to rock American taxpayers. Under the Tax Cuts & Jobs Act of 2017 (TCJA) if you are a divorced parent, separated spouses or an unmarried parent, you may now be unable to fight over their children’s dependency exemptions in 2018 because lawmakers have eliminated the exemption.In 2017, the U.S. Congress passed … Read More
California Dreamin’… About Your State Tax Refund?
Where’s My Refund TYS is familiar with California’s tax ecosystem, I can tell you: the anticipation around state refunds is real. You filed. You waited. And now you’re asking, “Where’s my refund?” How California Processes Your Refund Once you submit your return—either electronically or by mail—the Franchise Tax Board (FTB) typically processes e-filed returns in under 3 weeks. Paper returns? … Read More
“Where’s My Refund?” – The New York Edition
Every spring, New Yorkers become amateur detectives—trying to uncover the mystery of their missing refund. Where is my refund NY? As CPAs, we field this question daily: “Where is my state refund?” Let me give it to you straight. Understanding the Refund Timeline The New York State Department of Taxation and Finance typically issues refunds within: But that’s best-case scenario. … Read More
5 Simple Steps to Make Tax Season Less Stressful
Tax Tips for Reducing Taxable Income. Tax season doesn’t have to be overwhelming. Whether you’re an employee or a small business owner, staying organized and proactive throughout the year can make filing your taxes a smoother and less stressful experience. Here are five practical tips to help you stay on top of your taxes and potentially save money along the … Read More
Celebrating Madam C.J. Walker
A Pioneer in Beauty and Business – Madam C.J. Walker This Black History Month, we honor Madam C.J. Walker, a trailblazer who transformed the beauty industry and empowered countless women. Born Sarah Breedlove in 1867 to formerly enslaved parents, Madam Walker overcame immense challenges to become America’s first self-made female millionaire. Madam Walker’s journey began with a simple yet revolutionary … Read More