Congress has passed tax reform that will take effect in 2018, ushering in some of the most significant tax changes in three decades. Here are some major items in the new bill that impact individual taxpayers.
The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here’s a look at some of the more important elements of the new law that have an impact on individuals.
You still have time to put yourself in the best tax position possible before the clock strikes midnight on New Year’s Eve. Follow these five tips and you won’t be sorry when tax season rolls around.
There are more than a dozen variations of the information return known as Form 1099. Most are specific to certain industries. But nearly every company, large or small, has to issue Form 1099-MISC.
We hope the Thanksgiving holiday was a wonderful time for you and your loved ones. There’s usually plenty of food, football, and shopping. While Americans love to snatch up deals on Black Friday and Cyber Monday, did you know there’s another shopping event that is larger than these two days combined?
You can save more for retirement next year using tax-advantaged accounts, thanks to a boost in the maximum 401(k) contribution rate by the IRS. The maximum rate increases by $500 to $18,500, which is the first increase in three years.
Taxpayers often overlook and underreport charitable contributions on their tax returns.
The IRS and the Social Security Administration published some inflation-adjusted numbers for retirement contributions and gifts for 2018. You can use this information as you begin your tax and financial planning for the coming year.
This October, we experienced more of the same with the market ticking upward and achieving new all-time highs. In this environment, it’s important to remember that we haven’t seen some typical market moves in quite some time—namely a correction.
