Blog
How Birmingham Taxpayers Can Lower Their 2020 Tax Bill
Finally, the IRS issued guidance on Friday evening about payroll tax deferrals.And, as we've been communicating ... this may not be a very helpful program for most Birmingham taxpayers. In fact, it's actually up to employers (not employees) whether or not to withhold...
Controlling Your Tax And Financial Strategy In The Midst Of Chaos By Randall Hancock
Still no guidance from the IRS about the payroll tax "holiday" (deferral), so it's extremely unlikely that your Birmingham employer will be ready -- simply because the major payroll companies (Paychex, ADP, Gusto, and many others) don't have the answers to many...
How To Ensure Birmingham Families Are Prepared For Chaos
Summer is nearing an end, but this has been no ordinary summer.Everywhere, parents are scrambling in the most unusual "back to school" season in memory. College football is in limbo, and professional sports are operating in a weird Twilight Zone mode. Urban centers...
Truth and Fiction About the Trump Payroll Tax Cuts For Birmingham Taxpayers
Right now we're living through an age in which media trust has been thoroughly decimated. "Expert" authority itself is being questioned (in many cases, rightly), and misinformation is rampant.That's perhaps one of the reasons I've received so many visits to this...
Now Is The Time For An Estate Plan For Birmingham Taxpayers
Right now, it's almost impossible to escape the conflict, the noise, and the shaming over various cultural decisions we're having to make. Lockdowns, schooling, more economic stimulus, elections, vaccines -- it's all enough to drive you crazy if you pay close...
Randall Hancock’s Guiding Principles For Teaching Kids About Money
However you slice it, the schooling situation right now is tough, with no good options.If you are vehemently in favor of full-on school ... well, compassion would dictate that you would recognize that others are having more difficulty with that, for caution's sake or...
A Strategy For Birmingham Taxpayers With A Higher Than Expected Tax Bill
Taking a look around the world these days, and where things seem to be headed...But our heads are high here at Randall M. Hancock CPA, PC because we worked our tails off for our Birmingham clients this year. We helped a bunch of people save a ton on their taxes --...
Reflections On The Extended Tax Season By A Local Birmingham Tax Professional
I remember at the end of April 2019 that I felt like it had been one of the wildest tax seasons in memory. The TCJA ("Trump Tax Code") had thrown a ton of curveballs our way, and we were looking forward to implementing tax planning strategies for our Birmingham...
The End of Tax Season, Estimated Taxes, And Unemployment Compensation by Randall Hancock
I'm still emotionally adjusting to the fact that we just went through 4th of July weekend ... and "tax season" is STILL GOING.I'm thankful for it, because I also know that extending the deadline during this wild, intensely difficult year (for so many) was a rare...
Randall Hancock’s To-Do List If You Can’t Pay All Your Taxes
Some of our Birmingham clients are STILL pulling their paperwork -- which is understandable during this donkey of a year, and with all of the new complications.But sadly, ye olde IRS isn't extending any payment grace in a couple weeks. (I say "sadly", but me and Debra...
Why Procrastination Makes Sense in 2020 For Birmingham Taxpayers
We've had impeachment votes, worldwide pandemics, quarantine-like lockdowns (for the healthy), public police brutality, widespread protests, intense riots, statues falling and social media anger to top off our 2020.What's worse -- the year isn't even halfway...
Is Your State Broke? Randall Hancock Analyzes State Tax Revenue Sources
With national events continuing as they are, me and Debra are finding ourselves locking into "go mode" ... again. It's unusual for us to be in this mode smack in the middle of June, but this year has not been ... usual. This is because the tax deadline (July 15th,...