Tax Pro Plus
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Los Angeles, CA 90064
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Tax Filing Deadline Rapidly Approaching
Just a reminder that the due date for 2017 tax returns is April 17, 2018! There is no penalty for filing late if you are receiving a refund. However, it is quite a different story if you have a balance due. There are two types of penalties. Late filing and late payment penalties are quite severe. Filing an extension gives you until October 15th to file and avoid the late filing penalties. However, there is no extension for paying your tax liability even if you have a valid extension to file.

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Cryptocurrencies and Your Taxes
If you trade cryptocurrencies like Bitcoin you are required to report the transactions for tax purposes.

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Tax Reform Adds Education Benefit
Tax law provides two tax-advantaged savings plans for the Qualified State Tuition Plan (commonly referred to as a 529 Plan). They are similar in that contributions to the plans are not tax deductible (although some states do allow a deduction for contributions to their plans) and the earnings are tax deferred and tax free if used for qualified education expenses.

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Are You Part Of The 1%, When it Comes To Paying Taxes?
The latest set of figures is for 2015 tax returns and provides some interesting statistics on the adjusted gross income of US taxpayers.

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Minimizing Tax on Social Security Benefits
How much (if any) of your Social Security benefits are taxable depends on a number of issues. The following facts will help you understand the taxability of your Social Security benefits.

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