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Author Archives: Spire Group Tax Committee

Spire Group Tax Committee

About Spire Group Tax Committee

The Tax Committee is comprised of a group of tax professionals that oversee tax procedures, guidelines and best practices at Spire Group, PC. They are continuously reviewing new tax laws, legislation, and tax planning strategies.
16 Jul

If You Owe Back Taxes, Take Note: New Jersey Just Passed a New Tax Amnesty Bill

New Jersey’s New Tax Amnesty Bill On July 1st, the State of New Jersey passed a bill that establishes a 90-day tax amnesty period for its taxpayers. This bill was introduced in March, but it went through two re-writes before the Governor approved it. As enacted, this bill will provide penalty and interest relief for […]

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27 Jun

Are My Home Equity Loans Still Deductible?

Even though the tax reform package was passed six months ago, we are still figuring out exactly what these changes will look like on our tax returns. One of these changes is now a bit easier to understand thanks to the IRS. You heard that right – the IRS recently released helpful information on the […]

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15 May

Tax Implications of Investing in a Small Business

Investing in a small business can be a great opportunity. It can provide you with the chance to earn extra income, to diversify your investment portfolio, and it can be rewarding to help bring another person’s idea to fruition. But of course, with these rewards also come risks, so it is important to fully understand […]

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26 Apr

New Year, New Tax Brackets

How Tax Brackets Have Changed The tax plan that was passed late last year has been all over the news lately, which should come as no surprise; it represents the biggest change to U.S. tax code in almost 30 years. While tax brackets have shifted slightly over the years and are updated regularly for inflation, […]

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13 Apr

How the Recent Tax Reform May Impact Your Charitable Giving Strategy

Charitable Giving Strategy The first time Congress allowed a tax deduction for charitable giving was in 1917, only a few months after the U.S. entered WWI. This deduction was created as a way to bolster charities and their war efforts, and it has been available to taxpayers ever since. Today, taxpayers can take a charitable […]

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09 Mar

Take a Guided Walkthrough of Your Tax Return

Form 1040, Schedule E, Itemized Deductions, Business Income, Schedule D… there are so many parts to a tax return, and at first glance, each page is more complex than the last. Tax returns are confusing for many taxpayers, and that is why we would like to give you a quick guided tour of some of […]

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26 Feb

An Introduction to the Qualified Business Income Deduction

The Tax Cuts and Jobs Act was passed in December 2017, and most of the new guidelines are effective for tax years that begin on or after January 1, 2018. With such a brief implementation period, many taxpayers feel lost and unprepared to handle the changes. Luckily, it is not too late for taxpayers to […]

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20 Feb

Upgrading Your Home to Use Solar Energy May Earn You a Tax Credit

Upgrading your home to be more energy efficient can save you money over time, but the upfront cost of the upgrades may be steep. And while many of the energy upgrade tax credits have expired in the last couple years, there is one still available that can help taxpayers offset the costs of improving the […]

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