Scholarships Are Usually Tax Free But They May Result in Taxable Income
If your child receives a scholarship, is the amount taxable income? Here are the rules.
The Next Estimated Tax Deadline Is January 15 If You Have To Make a Payment
The fourth estimated tax payment deadline for 2020 is coming up. Here are the details of when it is and whether you’re required to make a payment.
The Tax Implications of Employer-provided Life Insurance
Employer-provided group term life insurance can be a nice employee benefit. But depending on the amount of coverage, it may cause an unwanted tax result. Here’s why.
Two Major Tax Law Changes for Individuals in 2019
Changes to the medical expense deduction and the tax treatment of alimony go into effect in 2019. Find out the details.
Advantages of ‘Catching Up’ on your IRA Contributions
The income reduction from making catch-up contributions to your retirement plan might be especially beneficial in 2018 if you had significant itemized deductions in the past that now will be reduced or eliminated by the TCJA. Here’s what you need to know.
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.
Close Up: QBI Deduction’s Wage Limit
The TCJA’s new deduction for owners of pass-through entities can be 20% of qualified business income. But a wage-based limit applies if an owner’s taxable income exceeds certain levels. Find out how the limit works.
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.
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.