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.
2019 will be here soon. Have you taken care of everything you need to do by Dec. 31 to minimize your 2018 taxes, make the most of tax-advantaged savings opportunities and avoid unnecessary penalties?
Kids back in school, the days getting shorter, pumpkin spice everything. It must be fall! For businesses, that means it’s time to begin year-end tax planning. It’s also time to think about the fourth quarter 2018 filing deadlines.
There still may be time to undo your 2017 Roth IRA conversion. But think twice before converting this year because you won’t have the same flexibility with a 2018 conversion.
If you’re considering making a gift of income-producing or appreciated assets to a minor or a college student, beware of the big, bad kiddie tax. It’s fiercer under the TCJA.
After a busy winter and spring, you and your employees might be trying to take it a little easy this summer, perhaps using some vacation time or working shorter days. But don’t take it so easy that you miss these important Q3 2018 tax deadlines.
The TCJA preserves the home sale gain exclusion, so if you’re selling your principal residence, you may be able to exclude up to $250,000 ($500,000 for joint filers) of gain. Learn more about the tax treatment of home sales.
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.
If you recently filed your 2017 individual income tax return or filed for an extension, it may seem like some time off from thinking about taxes is in order. But taking such a break could be costly, especially this year.
It’s easy to accumulate a mountain of paperwork (physical or digital) from years of filing tax returns. Here are some guidelines to help small businesses determine what they need to keep and what they can throw out.