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Cantrell & Cantrell can provide the best available representation for virtually any tax problem, including:
Tax News
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How Does the IRS Choose Who to Audit?
An IRS audit is an in-depth review of your tax return during which the IRS makes sure you are in strict compliance with the tax law and have documentation for every deduction you claimed. If not, they will disallow it and assess you back taxes, interest, and penalties. Penalties apply if the tax deficiency […]
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Differences Between a Tax Attorney and a Tax Accountant
People are often confused over whether to hire a tax attorney or a tax accountant to handle their tax issues. In many cases, the roles these individuals play can overlap. They both know a lot about taxes, charge about the same, and have a professional license. However, these professions have distinct roles. In some […]
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Highlights of the Tax Cuts and Jobs Act.
Changes Affecting Individuals New Income Tax Rates & Brackets. For tax years 2018 through 2025, seven tax rates apply for individuals: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The tax rates for estates and trusts are: 10%, 24%, 35%, and 37%. An individual reaches the highest tax rate at taxable income of $500,000 ($600,000 […]
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Changes Affecting Estates and Trusts
The new Tax Cuts & Jobs Act signed by the President on December 22, 2017 contains several key estate and trust provisions. Keep in mind that these changes only apply in 2018 through 2025. Among the changes affecting estate planning are: Increased Estate, Gift, and GST Tax Exclusion/Exemption. The new law doubles the estate, gift, […]
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