Individuals

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File early to help prevent tax identity theft

File early to help prevent tax identity theft

The IRS has just announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17 filing deadline, or even the extended deadline of October 15 (if you file for an extension by April 17). After all, why go...

Tax Cuts and Jobs Act: Key provisions affecting individuals

Tax Cuts and Jobs Act: Key provisions affecting individuals

On December 20, Congress completed passage of the largest federal tax reform law in more than 30 years. Commonly called the “Tax Cuts and Jobs Act” (TCJA), the new law means substantial changes for individual taxpayers. The following is a brief overview of some of the...

You may need to add RMDs to your year-end to-do list

You may need to add RMDs to your year-end to-do list

As the end of the year approaches, most of us have a lot of things on our to-do lists, from gift shopping to donating to our favorite charities to making New Year’s Eve plans. For taxpayers “of a certain age” with a tax-advantaged retirement account, as well as...

Last minute tax saving tips for individual taxpayers

Last minute tax saving tips for individual taxpayers

The year is quickly drawing to a close. But there’s still time to take steps to reduce your 2017 tax liability, as long as you act by December 31st.  Here are a few tried-and-true year-end tax planning tips for those who normally itemize their deductions: Pay your...

Could the AMT boost your 2017 tax bill?

Could the AMT boost your 2017 tax bill?

A fundamental tax planning strategy is to accelerate deductible expenses into the current year. This typically will defer (and in some cases permanently reduce) your taxes. But there are exceptions. One is if the additional deductions this year trigger the alternative...

Nonqualified stock options demand tax planning attention

Nonqualified stock options demand tax planning attention

Your compensation may take several forms, including salary, fringe benefits, and bonuses. If you work for a corporation, you might also receive stock-based compensation, such as stock options. These come in two varieties: nonqualified stock options (NQSOs) and...

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