News

As we all gear-up for the 2018 tax filing season – one that will prove to be a challenge as the new and extensive Tax Cuts and Jobs Act (TCJA) changes officially take place – there is much anxiety about whether taxpayers have been withholding properly over the last year.

As all of Louisiana gears up for the big playoff game this weekend . . . Saints v. Eagles . . . what better time to blog about the NFL and taxes! Have you ever wondered how much income taxes your favorite NFL players are paying? It might surprise you.

An award winning Tax Attorney, Cary B. Bryson is the co-founder of Bryson Law Firm, LLC with his wife, Angie. Recently, he was named a “GameChanger®” in the USA Today by the National Association of Experts, Writers and Speakers® due to his vast contributions to his field. The spread, also titled “GameChangers®,” shines the spotlight on an elite group of entrepreneurs and their credentials.

The internet was abuzz these past few weeks over a controversial tax that came out of California – a “Texting Tax.” The California Public Utilities Commission proposed a tax that assessed a fee for texting that would add a fee onto Taxpayers' wireless bills.

Co-Founder of Bryson Law Firm, LLC, Cary B. Bryson, was recently recognized as an Acadiana Kingfish in the 2018 October/November issue of Acadiana Profile Magazine. The magazine’s Kingfish section acknowledges accomplished businessman of Acadiana who give more to others than to themselves. A Kingfish is known for being generous, durable and unflinching in character.

Co-Founder of Bryson Law Firm, LLC and Bryson Accounting and Tax Services, LLC, Angie Bryson, was recently recognized as an Endorsed Local Tax Provider (ELP) in the tax services area by Dave Ramsey.

Louisiana House Bill 650 and Act 687, which recently won approval during the 2018 regular session, makes families who pay tuition to K-12 schools eligible for a federal tax break by allowing families to open and use “START K12” savings accounts.

Louisiana Taxpayers affected by the 2016 floods should consider reviewing the tax returns they filed for that year.

In 2014, the IRS created the current Offshore Voluntary Disclosure Program (OVDP). This program was set up to allow Taxpayers with foreign financial accounts and assets to come forward voluntarily so that they could mitigate the risk of potential criminal liability and civil penalties due to willful failure to report foreign financial assets. This program has now been set to sunset on September 28, 2018.

In light of the new tax law changes, the IRS is encouraging Taxpayers to perform a “Paycheck Checkup” via their new Withholding Calculator tool to ensure that the appropriate amount of taxes are being withheld from their paychecks.