Do You Need to Make an Estimated Tax Payment by September 17th?
Two of the 2018 estimated tax payment deadlines for individuals have already passed; the third one is coming up very soon. Here’s how to determine if you need to make a payment.
Back To School: Tax Breaks for Teachers
While it still feels like summer across most of the country, fall is almost here and students are returning to school. For many teachers, that also means the return of out-of-pocket classroom expenses. Fortunately, they can enjoy a tax deduction for some of these costs.
Play Your Tax Cards Right with Gambling Wins & Losses
For those who enjoy gambling as a hobby, as a professional or only on occasion, be sure you understand the tax hand you’ve been dealt. The TCJA could make the consequences a little different from last year.
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.
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.
Can You Deduct Home Office Expenses?
You might be able to deduct home office expenses for 2017 but not 2018. The difference may depend on whether you’re an employee or self-employed.
Personal Exemptions, Standard Deductions, & Tax Credits
It’s the total impact of the TCJA’s reduced tax rates and other changes that will determine whether your tax liability drops for 2018. Changes to the personal exemption, standard deduction and child credit are just the tip of the iceberg.
Tax Cuts and Jobs Act: Key Provisions
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.