TCJA & Estate Planning
Your estate plan may need a tax update in light of the Tax Cuts and Jobs Act, even if your estate is well under the new $11.18 million estate tax exemption.
Do You Need to Adjust Your Withholding?
Post-TCJA withholding tables could put you at risk of significantly underwithholding your federal income taxes and being hit with an unexpectedly high tax bill when you file your 2018 tax return next year. Here’s what to do to avoid this outcome.
Thinking About Filing for an Extension?
The April 17 individual income tax return filing deadline is almost here. If you haven’t filed yet, watch out for these pitfalls.
Home-Related Tax Breaks in 2018 vs 2017
Are you a homeowner? Then home-related tax breaks may provide significant savings on your 2017 return. But the tax-saving outlook isn’t as rosy for 2018.
Casualty Losses in 2018
A disaster, fire or theft last year may mean a 2017 income tax deduction, and claiming it may be easier for certain natural disaster victims. But availability of this break narrows for 2018. Here’s what you need to know.
Small Business Tax Savings for 2017
Sec. 179 expensing allows eligible taxpayers to deduct the entire cost of qualifying business property in Year 1, subject to various limitations. Here’s what you need to know.
Tax Deductions: Moving Costs
If you moved in 2017, you might be able to deduct some of your moving expenses on your 2017 tax return. Unfortunately, if you move in 2018, it’s a different story.
Tax Breaks: Tuition and Fees
The recently passed Bipartisan Budget Act of 2018 included an extension of the tuition and fees deduction. But that may not be the best higher-education break to claim on your 2017 return.
TCJA & Medical Expense Deductions
The new tax law makes it easier to claim the medical expense deduction on your 2017 tax return. It provides planning opportunities for 2018, too.
Tax Credits for Small Businesses
Providing employee benefits can help businesses attract and retain the best workers. But the cost can be out of reach for some small businesses. Two tax credits can help make benefits more affordable.