New parents have their work cut out for them. Not only are they dealing with lost sleep, they also face the extra cost of raising a child. At least there are a lot of potential tax breaks available to them. Check out this list.
The recently enacted Tax Cuts and Jobs Act (TCJA) is the most significant tax package in 30 years. Hereâ€™s a look at some of the more important elements of the new law that may impact you.
The recently enacted Tax Cuts and Jobs Act has overhauled of many parts of the Internal Revenue Code. Here are some of the most important provisions in the new law that affect businesses.
So you're ready to open an individual retirement account, but you're not quite sure what's going to work for your situation. Don't worry. Here's a quick overview to help you decide.
Charitable giving is a whole new ballgame for taxpayers now that most itemized deductions have been reduced or eliminated and the standard deduction has nearly doubled.
While the kids are getting out of school, we thought we would take you back to the classroom and review some key terms that you may be hearing regarding whatâ€™s happening in the market.
Now is the ideal time to schedule a tax-planning session. Your tax return outcome is still fresh, and it's early enough in the year to make corrective action to take advantage of the numerous new tax law changes taking place in 2018. Here's a brief overview of some of the new tax issues that you need to plan for now.
December may feel like a long way off, but itâ€™ll show up quicker than you think. Luckily, you still have time to figure out just how much the Tax Cuts and Jobs Act (TCJA) affects your situation.
Tax Day has passed, but that doesnâ€™t mean all of your tax issues have been resolved. Here are answers to three popular questions taxpayers ask post-tax season.
With April now behind us, the S&P 500 is just about even from the beginning of the year, but what a ride it has been! January gave us the â€śMelt Upâ€ť of over 7%, February brought a correction, and March was a whipsaw of trade concerns and inflation fears. It seems April was more of the same.
The Tax Cuts and Jobs Act (TCJA) was passed by Congress in a hurry late last year, and the IRS and tax preparers have been working to digest some of the more thorny issues created by the tax overhaul. Here are the latest answers to some of the most common questions.
Health care coverage gaps happen. Whether because of job loss or an extended sabbatical between gigs, you may find yourself without health care for a period. Here are some tax consequences you should know about, as well as tips to fix a coverage gap.
Whitcomb & Hess is honored to have been selected for April 2018 Ohio Secretary of Stateâ€™s Ohio Business Profile. We would like to thank the Ashland Chamber of Commerce for the nomination
Tim Hilterman, Investment Advisor for Whitcomb & Hess, Inc., has earned the Chartered Advisor in PhilanthropyÂ® (CAPÂ®) Designation. This designation provides Tim with the knowledge and tools needed to help individuals and families articulate and advance their highest aspirations for themselves, their families, and their community.
The stock market has had an up and down start to 2018. Volatility has made a comeback, after being mostly absent last year.
You love giving. You donâ€™t love paying taxes. Our new federal tax laws may hold some good news for you.
Support staff often play an unrecognized yet vital role in a businessâ€™s success. In many ways, they are the mortar that holds all the bricks together. At Whitcomb & Hess, we understand their value and would like to introduce to you to two of our Investment Team members who contribute greatly to our organization.
When I was studying to obtain the CERTIFIED FINANCIAL PLANNERâ„˘ certification, one of the first definitions I had to memorize was the meaning of risk--the possibility of loss. Risk is everywhere in our world, and as your advisors it is our job to help you identify these risks and find the most effective means to reduce or eliminate them.
A lot of people like to receive a refund from the IRS, thinking of it as a form of forced saving. On the other hand, if you underpay your taxes by more than $1,000 and don't meet certain exceptions, you could be hit with a penalty.
Itâ€™s a good time to unplugâ€¦ not from your investment strategy: from the media!
Most Americans get a refund every year, with the average check weighing in at $2,895 last year. Even though itâ€™s really money that they earned, many people are tempted to treat it like a windfall and splurge. If you can resist that temptation, here are some of the best ways to put your refund to good use.
While most people should file a tax return by April 17, you have the option of delaying your filing date until Oct. 15 with a tax extension.
If you enjoy running your own business, selling it may be the furthest thing from your mind. But the reality is that eventually an opportunity to sell will come, whether due to your own life changes or a perfect buyer walking in the door. Planning, often years in advance of the sale date, is necessary to get the most value for the love, sweat and tears youâ€™ve invested. Here are some tips to stay prepared.
Return of the Correction and Inflation
The Tax Cuts and Jobs Act signed into law at the end of 2017 sets the estate tax exemption at $11.2 million per individual for 2018.
In early February, Congress passed a federal budget bill that revived several expired tax breaks for the 2017 tax year.
Congress passed a federal budget bill in early February that revived dozens of expired tax breaks for the 2017 tax year. They include a deduction for education expenses as well as several tax breaks for homeowners.
With all of the headlines about the changes to tax law, you probably have lots of questions. Here are answers to some of the most common questions taxpayers have this year.
Starting your own business can be equal parts thrilling and intimidating. Complying with regulations and tax requirements definitely falls into the latter category. But, with some professional help, it doesnâ€™t have to be that way. You can get started with this checklist of things youâ€™ll need to consider.
The IRS recently released updated income tax withholding tables. These updates are a result from changes in the Tax Cuts and Jobs Act (TCJA) passed in late 2017. Employers will have until Feb. 15 to update their payroll systems. Employees will start seeing the changes to their paychecks shortly thereafter.