March Madness Continues 2018 Tax News
IRS to End of the Offshore Voluntary Disclosure Program
Repairs vs. Improvements What Can I Deduct from my Taxes?In owning rental property, there are certain rules on how to deduct the cost of your repairs. Or are they improvements? If you are a landlord, read about the differences of what is a "repair" to an "improvement" Repairs vs. improvements, so what’s the difference?
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April is around the corner!!!
For Individuals- 2017 income tax return due (Form 1040, Form 1040A or Form 1040EZ). An automatic six-month extension can be requested (Form 4868) BUT any tax is still due. (June 15 due date for taxpayers living or outside the country.)
- FBAR reporting due of foreign financial accounts reaching aggregate balances of $10,000 on any one day in 2017, or automatic six-month extension.
- First installment of 2018 estimated taxes due (Form 1040-ES).
- Last day to make a 2017 contributions to a traditional IRA or Roth IRA (even if an extension is filed).
- Last day to make a 2017 contributions to a SEP or certain other retirement plans (unless a 2017 income tax return extension is filed).
- 2017 gift tax return (Form 709), or filing for an automatic six-month extension (Form 8892), and pay gift tax due; or filing for an automatic six-month extension (Form 4868) to extend both Form 1040 and, if no gift tax is due, Form 709.
Other Items Due on April 17
Be Ready! Get Tax ChecklistDownload the Tax Checklist to help you get ready for preparing your taxes whether you DIY or consulting a tax pro.
Behind in your taxes? Time to catch up before getting caught? If you haven't filed your taxes in years, Mir Taxes can assist you with the process through the Streamlined Procedures Program of the IRS ... and at reasonable prices. Contact Mir Taxes for more information.
Looking for a tax pro to get a tax return done or answer a question? Need to get your 2017 tax return completed? Get your FBAR filed? Or have any tax questions? Please feel free to contact us for any assistance.
Read all of these articles plus more on our website - www.mirtaxes.com Thank you for reading our newsletter!
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