In each episode of the ACap ReCap, we go beyond the blog to answer your financial questions. Ara & Matt explain if you should be paying estimated tax payments based on your income source, when to make those payments to the IRS, and the important  tax planning information you need to know.

Just as we are starting to comprehend the Tax Cuts and Jobs Act, the IRS might be adding some new tax forms to use in 2019. Earlier this month, the IRS released several new draft tax forms for 2019. While the list of draft forms was long, the most notable forms are the 1040 and a new 1040-SR for seniors age 65 or older. 

Do you own or want to own rental real estate? Are you taking advantage of the recent tax reform to minimize your tax liability?

There is a new 20 percent tax cut for small businesses that is part of the 2017 Tax Cuts and Jobs Act (TCJA) which was passed on December 27, 2017. It’s called the Section 199A Qualified Business Income Deduction. Since the passage of the TCJA, there have been hundreds of articles on the topic, some in favor of the act and others opposed. Some taxpayers are excited about the lower tax rates and others are nervous about how their taxes will change. Most importantly, small businesses are utterly confused as to whether they qualify for the generous Section 199A deduction, which is considered the biggest tax cut of all. This article breaks down each section of the 199A and helps readers determine if they qualify.