Ong & Company Blog

Marriage Income Tax Penalty Lives On!

Richard Ong / August 14, 2019 /

Tax Planning

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Tax-Wise College Housing

Does your child, grandchild, or someone else you know need a place to live while attending college? Instead of renting a dorm or apartment, buying a condo or small house might make more sense. This ...

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Beware of New Tax Scams

Richard Ong / July 22, 2019 /

Tax Fraud

The IRS remains on the lookout for tax scams that can blindside unsuspecting taxpayers. Now two variations of past scams are currently making the rounds. Here’s what you need to know:...

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5 IRS Audit Myths

When it comes to the perception of IRS audits, conjecture reigns supreme. The combination of the complex tax code and a government agency with the full authority to enforce it leads to some pretty ...

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Client Spotlight: Dempsey's Burger Pub

Sam Scibona / July 05, 2019 /

Client Spotlight

After a long run of success with The Bull, the Sorrentino family is making splash in the Lawrence restaurant scene after taking over, renovating, and reopening Dempsey's Burger Pub at 623 Vermont....

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Tax-Wise Charitable Contributions

Despite what you may have heard from friends or family, you can still claim generous tax benefits for charitable contributions. Here are three prime examples of charitable tax breaks ripe for the ...

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Summer Tax Savings

Cash in on summertime tax savings Summer is usually the time for relaxing, but it can also be a time for tax savings, especially if you're still reeling from an unexpectedly large tax bill in April. ...

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Estimated Tax Deadline Approaching

Second Quarter Estimated Taxes Due If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The second quarter due ...

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Net Investment Income Surtax

Richard Ong / May 29, 2019 /

Tax Planning

The new tax legislation enacted late in 2017 rewrites large sections of the tax code. However, one key provision for investors has remained in place: the tax on net investment income (NII). Although ...

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20% QBI Deduction for Rental Real Estate

Landlords: Review the new 199A safe harbor rule Owners of pass-through entities (S corporations, partnerships and limited liability companies) and sole proprietors can benefit from a new deduction ...

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