Taxes Archives - Cray Kaiser

Important Accounting Dates and Deadlines for 2016

Upcoming Tax Deadlines – 2019 Q3

Be sure to mark your calendar and allow time to prepare for these upcoming tax deadlines.

IRS Audits: Are You Next?

Have you ever wondered what the odds are of your return being audited? This is somewhat of a mystery to taxpayers and unfortunately there is no concrete answer. Audits are generally selected at random, but there are a few things that may flag your return for an audit.

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Illinois Manufacturers to Receive a Sales Tax Break on Supplies

Recent tax legislation has now expanded the manufacturing sales tax exemption in Illinois. For purchases made on or after July 1, 2019, any production-related, tangible personal property used or consumed in the manufacturing process qualifies for the sales tax exemption.

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Don’t Forget Your Mid-Year Payroll Withholdings Check-Up

As we officially enter the second half of the year, we’d like to remind you to perform a check-up on your tax withholdings. You probably know that many taxpayers were surprised with either reduced refunds or higher taxes due when they filed their 2018 taxes. Why did this happen? Because their 2018 income tax withholding was not sufficient throughout the year.

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Why You Should Never Take on the IRS Alone

It’s another normal day at the office, until you receive a letter from the IRS. You’re being audited. What do you do now? The first thing you should do is call your tax advisor! While you might be up to navigating an audit on your own, there are many reasons why utilizing a professional’s help will make or break the outcome of your audit.

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Important Changes to Illinois Sales Tax Rate 7/1/19

We wanted to let you know that effective July 1, 2019 certain taxing jurisdictions in Illinois have imposed a local sales tax or changed their local sales tax rate on general merchandise sales. Click here for more information.

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5 Lessons Learned from the 2018 Tax Season

We’ve worked hard all fall and winter to help our clients prepare for April 15th, but how will our collective efforts pan out? While the work of tax season is fresh in our minds, we wanted to share our insights into the lessons learned during Cray Kaiser’s 47^th tax season.

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How to Protect Yourself from Tax Scams

Identity theft is a real threat, but it is often downplayed because not everyone has witnessed or experienced it firsthand. Having a false sense of security can leave you exposed, especially during tax season. Here are some tips to keep your identity safe from scammers:

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IRS Announces Updated 2019 Mileage Rates

The updated mileage rates for travel for 2019 have been confirmed by the IRS. The standard business mileage rate is increasing by 3.5 cents to 58 cents per mile. The medical and moving mileage rates are also increasing by 2 cents to 20 cents per mile. Charitable mileage rates remain unchanged at 14 cents per mile.