Rather than keeping track of your actual vehicle-related expenses, you can use a standard mileage rate to compute related tax deductions. But when are individual taxpayers eligible to deduct vehicle-related expenses
Friends, Romans and countrymen, lend me your ears: All ye who must file a partnership or S corporation tax return, watch out for this tax deadline.
Lower tax rates might help reduce your 2018 tax bill, but new limits on many deductions could offset the benefits of lower rates. For example, five itemized deductions have shrunk or disappeared.
There are three major changes that will impact many individual taxpayers, beginning when they file their 2018 income tax returns. And we’re not talking about tax rate cuts or reduced itemized deductions.
In a tax identity theft scheme, a thief uses your personal information to file a fraudulent tax return early in the filing season and claim a bogus refund. Here’s how to protect yourself.
Don’t take the substantiation requirements for charitable donation deductions lightly. If you made a gift last year and haven’t received a written acknowledgment from the charity, read this before claiming a deduction on your 2018 income tax return.
The TCJA made changes to some of the middle income tax brackets that may negatively affect unmarried taxpayers and positively affect married taxpayers. Find out the potential impact on your rate for 2018 and 2019.
Changes to the medical expense deduction and the tax treatment of alimony go into effect in 2019. Find out the details.
With the new year comes the need for small-business owners to begin thinking about filing their 2018 income tax returns. The TCJA could significantly alter your tax liability compared to previous years. So refresh yourself on its major provisions.
How much you can contribute to your retirement plans each year depends in part on the annual limits. Sometimes these go up from one year to the next, and sometimes they don’t. Learn what’s changed and what hasn’t for 2019.