Category Archives: Individuals


Charitable Donation Options After Tax Reform

20

Sep 2018

Charitable Donation Options After Tax Reform

Francis Bacon once said, “With charity there is no excess” – a powerful statement that the IRS would amend to add, “but with limitations.” When it comes to charitable donations, you are allowed to deduct 50% of your charitable donations only as an itemized deduction. However, with the recent implementation of the Tax Cuts and Jobs Act, it is estimated that a large number of…

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Qualified tuition programs

03

Aug 2018

Qualified tuition programs

It’s extremely worrisome to think about how Americans owe approximately $1.5 trillion in student loan debt and how that number isn’t going to stop climbing anytime soon. How can we expect our children to be excited for college when they know they’ll be in debt afterward? What steps can we do to better financially prepare our children for college? Continue reading to learn more about…

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So Your Dependents Have Income… What Do You Do?

12

Apr 2018

So Your Dependents Have Income… What Do You Do?

An important part of filing taxes is claiming dependents. Most dependents are younger children, but what about older dependents who may be in college and/or have a job? What dependent deductions can you claim on your return? These issues confuse many people around tax season. The IRS requires that certain criteria be met for a taxpayer to claim a dependent, so it’s important to avoid…

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Individual Tax Penalties And What You Can Do About Them

02

Feb 2018

Individual Tax Penalties And What You Can Do About Them

Tax season is finally here! Obviously, the goal is to avoid any and all tax penalties. But if you find yourself in a position where you can’t pay the entire amount you owe, here is what you need to know: Deadlines One of the most important deadlines to mark on your calendar is your individual tax return deadline. 2017 Tax due date: April 17, 2018*


Tax Prep as Little as $45 for New(ish) Tax Filers!

22

Jan 2018

Tax Prep as Little as $45 for New(ish) Tax Filers!

Filing personal taxes isn’t everyone’s forte (especially if you’ve never done them before), but that’s why we’re here! If this is your first or second time filing taxes, we will do them for as low as $45. Current students can take advantage of this offer as well. To schedule an appointment today, call our office at (619) 358-9799 or email Alison at alison@paragonaccountants.com. We look…

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How Does The “Tax Cuts and Jobs Act” Affect You?

04

Jan 2018

How Does The “Tax Cuts and Jobs Act” Affect You?

What does this new change in the American Tax Code mean to me? Out from all the ruckus has come out a solidified tax reform plan that goes into effect for tax year 2018. With the bill passed by both the Senate and the House, President Trump signed the “Tax Cuts and Jobs Act” into law on December 22. But do not be mistaken, this…

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Trump’s Proposed Tax Reform: What Does it Mean to You?

06

Oct 2017

Trump’s Proposed Tax Reform: What Does it Mean to You?

President Trump’s proposed tax plan, which was announced in April and called the “the biggest tax cut” ever by the U.S. National Economic Council Director, would take our country from having one of the highest corporate taxes in the developed world to one of the lowest. Here we lay out some changes focused specifically towards small businesses and individuals. For a full description of the…

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Taking the Good With the Bad: Unemployment and New Home Sales at Record Lows

14

Sep 2017

Taking the Good With the Bad: Unemployment and New Home Sales at Record Lows

Unemployment Stats The United States economy and labor market continue their comeback, with the summer’s numbers better than expected. According to July’s report from the Bureau of Labor Statistics, May and July’s unemployment rates (4.3 percent) were the lowest since 2001 and 209,000 jobs were added in July alone, about 15 percent more than predicted. Thanks to businesses that have been able to hire, July…

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To Each & Every One of Our Valued Clients…Thank You!

27

Apr 2017

To Each & Every One of Our Valued Clients…Thank You!

Another successful tax season has come and gone, and none of it would be possible without your loyalty and continued trust in our services. At Paragon Accounting Group, we never want you to forget how much we value our relationships with each and every one of you as our clients. Strong and reliable partnerships are what businesses are built on. We hope to continue to earn your business…

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ITINs: A Chance to Participate in the U.S. Tax System

24

Oct 2016

ITINs: A Chance to Participate in the U.S. Tax System

The influx of foreign nationals, non-resident foreign nationals, and immigrants into the United States each year is a demographic phenomenon that has been at the centerpiece of our political and economic discourse for an overwhelmingly large part of our history as a nation. There are a myriad of reasons foreign individuals come to the United States, but for most, the appeal is undeniably the economic…

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