Jan 9, 2018 | Blog, Tax Bites
At tax filing time, a large tax bill isn’t your only risk. So is tax identity theft. To protect yourself, be speedy.
Jan 2, 2018 | Blog, Tax Bites
Bonus depreciation allows businesses to deduct more of an asset’s cost in the year the asset is placed in service. The new tax law’s enhanced bonus depreciation provision may save tax on your 2017 return.
Dec 26, 2017 | Blog, Tax Bites
For individual taxpayers, most Tax Cuts and Jobs Act provisions will apply only for 2018 through 2025. But they’ll generally have a big impact during that time.
Dec 16, 2017 | Blog, Tax Bites
The contribution limits for a couple of types of tax-advantaged retirement plans have gone up for 2018. How much should you contribute?
Dec 12, 2017 | Blog, Tax Bites
The charitable donation deduction hasn’t been proposed for elimination or reduction under tax reform, but there still are reasons to maximize charitable giving this year. Just be sure to follow the rules.
Oct 2, 2014 | Blog, Tax Bites
This year, trusts are subject to the 39.6% ordinary-income rate and the 20% capital gains rate to the extent their taxable income exceeds $12,150. And the 3.8% net investment income tax applies to undistributed net investment income to the extent that a trust’s...
Oct 2, 2014 | Blog, Tax Bites
If you’re considering donating a property to charity, here are some possible tax traps you should be aware of: If you donate real estate to a public charity, you generally can deduct the property’s fair market value. But if you donate it to a private foundation, your...
Sep 4, 2014 | Blog, Tax Bites
Now’s the time of year when many young adults are heading back to college — or to enter their first year of higher education. If you have a grandchild enrolled in college this fall and you’re concerned about gift and estate taxes, you may want to consider paying some...
Sep 4, 2014 | Blog, Tax Bites
An employer enjoys several advantages when it classifies a worker as an independent contractor rather than as an employee. For example, it isn’t required to pay payroll taxes, withhold taxes, pay benefits or comply with most wage and hour laws. However, there’s...
Sep 4, 2014 | Blog, Tax Bites
With the gift and estate tax exemptions currently at $5.34 million, you might think that estate valuations are less important. But even if you believe that your estate’s value is under the exemption amount, it’s still important to know the value of your assets. First,...
