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A review of significant TCJA provisions impacting individuals

A review of significant TCJA provisions impacting individuals

Now that 2019 has begun, there isn’t too much you can do to reduce your 2018 income tax liability. But it’s smart to begin preparing for filing your 2018 return. Because the Tax Cuts and Jobs Act (TCJA), which was signed into law at the end of 2017, likely will have a...

Year-end tax and financial to-do list for individuals

Year-end tax and financial to-do list for individuals

With the dawn of 2019 on the near horizon, there are many items that you need to take care of before the end of 2018. here’s a quick list of tax and financial to-dos you should address before the end of the year. Check your FSA balance. If you have a Flexible Spending...

When holiday gifts and parties are deductible or taxable

When holiday gifts and parties are deductible or taxable

The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s a good idea to find out whether the expense is...

Why the kiddie tax is more dangerous than ever

Why the kiddie tax is more dangerous than ever

Once upon a time, some parents and grandparents would attempt to save tax by putting investments in the names of their young children or grandchildren in lower income tax brackets. To discourage such strategies, Congress created the “kiddie” tax back in 1986. Since...

Year-End Thank You Gifts from Business Owners

Year-End Thank You Gifts from Business Owners

During the holiday season, it is natural for business owners to think about giving something to key individuals. On your list might be your employees, customers, suppliers, or others who helped your business during the year. If you have not already made plans, do so...

Want to help your child buy a home? Don’t wait!

Want to help your child buy a home? Don’t wait!

Mortgage interest rates are still at low levels. But they likely will increase as the Fed continues to raise rates. So if you’ve been thinking about helping your child buy a home, consider acting soon. There also are some favorable tax factors that will help: 0%...

The kiddie tax trap

The kiddie tax trap

It’s common for parents, grandparents and others to make gifts to minors and college students. Perhaps you want to help fund education expenses or simply remove assets from your taxable estate. Or maybe you’re hoping to shift income into a lower tax bracket. Whatever...

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