Category Archives: General

Charlotte Russe Files for Bankruptcy

Clothing retailer Charlotte Russe has filed for chapter 11 bankruptcy and will be closing 94 stores, including 3 in Missouri. Charlotte Russe advisers are proposing solutions to help fix the massive amount of debt. If a solution is not found, … Continue reading

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Things Remembered Files for Bankruptcy

Gift retailer Things Remembered filed has for chapter 11 bankruptcy. The company intends to close most of its 400 stores. The stores that remain open will be sold to Enesco LLC for $17.5 million. If you are thinking about filing … Continue reading

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Tax Returns May be Affected with these New Rules

The new tax rules associated with the Tax Cuts and Jobs Act may impact your return this year: Standard Deduction Increased: A key change is an increase in the standard deduction compared to 2017. Personal Exemption Eliminated: The $4,050 personal … Continue reading

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Slip and Fall?

Have you fallen on the ice in the last few days? Contact our office and let us see if we can help! You can give us a call at 816-524-4949 or visit our website at hoorfarlaw.com to set up an … Continue reading

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Gymboree Files for Bankruptcy

Children’s retail store Gymboree has filed for chapter 11 bankruptcy. After coming out of their first bankruptcy in September 2017, the company has cut their debt by $900 million. Gymboree is set to close more stores, but it is unknown … Continue reading

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Maximizing Retirement Plan Contributions

There is still time to lower your 2018 tax bill. You can deduct up to $5,500 ($6,500 if you are 50 or older) from your taxes if you and your spouse are not covered by a retirement plan. If you … Continue reading

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Tax Deadlines to be Aware of

January 15th 2019: Fourth quarter 2018 estimated tax payments due January 31st 2019: W-2 and 1099-Misc forms due March 15th 2019: S-Corperation tax returns due, Partnership, LLP and multi-member LLC tax returns due April 15th 2019: Report of Foreign Back … Continue reading

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Foreign Bank Account Rules

You will need to file a Foreign Bank Account Reporting form (FBAR) if the balance in the account(s) was greater than $10,000 in 2018. The name of the form is FinCEN Report 114. FinCEN stands for Financial Crimes Enforcement Network. … Continue reading

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Important Information to Note for the 2019 Filing Season

The 2019 filing season will begin on January 28th 2019 for individual taxpayers. Important things to keep in mind: File electronically: Both paper and electronic tax returns will be accepted, but taxpayers are urged to file electronically to speed processing … Continue reading

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New Tax Law Makes IRS Offer Penalty Relief for Taxpayers

The IRS recently stated that certain people’s tax penalties would get waived if they didn’t pay enough taxes throughout 2018. During 2018, taxpayers were still getting used to the new laws that were passed by Congress late 2017 regarding withholding … Continue reading

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