The recent changes to the tax code resulting from the Tax Cuts and Jobs Act uniquely effects each individual filing an income tax return.
Individual Tax Income
The Tax Cuts and Jobs Act changed and suspended many deductions that taxpayers could take on their individual tax returns.
Congress is enacting the biggest tax reform law in thirty years, one that will make fundamental changes in the way you, your family, and your business calculate your federal income tax bill, and the amount of federal tax you will pay.
You may or may not know your retirement date, or whether you intend to retire early or continue working as long as you can.
Yearend planning with losses may seem like a whole lot of work for nothing, but different categories of losses have different hoops you have to jump through, so understanding the rules is key to getting the most out of your losses.
As we approach year end, now is a good time to review the changes in business tax provisions including those provisions that have expired in 2016 and future years and provisions that began in 2017.
As December quickly approaches, now is the time to review business tax planning.
It’s that time of year again when individual tax planning for the current year is key. When reviewing your 2017 year for tax planning, it is important to know the changes and updates to Form 1040 which could have an impact on the amount you pay in taxes.
There are several tax elections and planning opportunities that I find are frequently overlooked by executors and tax return preparers when filing a decedent’s final income tax return
Stashing away the maximum amount into your IRA each year is retirement planning rule 101.