Are you a business owner with teenage or college-age children who constantly need money? Make them earn the money by hiring them. You can save taxes and reap other benefits.
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
Changes to the medical expense deduction and the tax treatment of alimony go into effect in 2019. Find out the details.
You may be getting ready to prepay your property taxes like you’ve done every year to boost your itemized deductions. But this year, review your situation first to be sure this strategy will provide a tax benefit. The TCJA made two changes that affect it.
For certain charitably inclined taxpayers, donating appreciated stock to charity can be an excellent year-end tax planning strategy. This may be especially true if the stock is highly appreciated and you’d like to sell it but are worried about the tax liability.
Donating artwork is a great way to share enjoyment of the work with others. But to maximize the tax benefit, too, you must plan your gift carefully and follow all the rules.
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.
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.
April 17 isn’t the only important tax-related deadline for individuals this year. To avoid interest and penalties, or simply to make the most of tax-saving opportunities, be sure you’re aware of these key dates for the rest of 2018.
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.