Posted by Jordon N. Rosen, CPA, AEP In the aftermath of the Tax Cuts and Jobs Act (TCJA), many taxpayers who used to be able to itemize deductions prior to 2018, now find themselves not being able to itemize and claiming the standard deduction. For 2019, the standard deduction is $24,400 for a married couple and $12,200 for a single … Continued
Estate & Trust
With the basic exclusion amount at $11.18 million and growing, along with portability of a decedent’s unused exclusion, most individuals will not have a federal estate tax liability.
The Tax Cuts and Jobs Act (TCJA) has altered the tax landscape for a lot of individuals and businesses. The changes are extensive and we wanted to provide a high-level overview of some of the features to keep you informed.
They (Congress) wanted to repeal the “death tax.” They (Congress) told us they were going to repeal the “death tax.” So what happened?
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 December quickly approaches, now is the time to review business tax planning.
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.