One of the most frustrating things that business owners have had to deal with regarding the Tax Cuts and Jobs Act (TCJA) is the uncertainty that has been surrounding the new tax law revisions and how they would affect taxpayers. If you have visited with your accountant or CPA firm over the past 12 months, it’s likely that you received a confident estimate of what your 2019 tax liabilities would be as your tax planning professional awaited the IRS to release a definitive set of guidelines. In mid-January of 2019, the Treasury Department, along with the IRS issued the final 2019 IRS guidelines and regulations, as well as, additional guidance on the new qualified business income (QBI) deductions.
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Now that the holidays are over and 2019 has started, have you thought about preparing for tax season? Probably, not.  We have some steps to help you gather documents needed to ensure that you do not miss any tax benefits and make the entire experience of processing your tax return easier.
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With the recent government shutdown and the opening of the 2019 tax season coming soon, did you wonder how that would affect the filing of your 2018 taxes? Maybe, or maybe not. Since no one knows for sure when the government will re-open, here’s what you need to know.
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