Income Tax
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2025 Tax Refund Date Estimator – And Last Minute Tax Tips for 2024
IRS Will Phase in $600 1099-K Reporting Threshold in 2026
Review of HubSync – The Accounting Technology Lab Podcast – Nov. 2024
2018 Tax Reform Law has Benefits for Some Small Businesses
The TCJA also benefits many small businesses while presenting new obstacles. In general, the revised rules for businesses take effect in 2018 and are permanent, unlike most changes for individuals.
Effects of 2018 Tax Reform Law on Individuals, Deductions and Credits
Most of the key provisions likely to affect individual taxpayers take effect in 2018 (for taxes that will be reported by April 2019), but are scheduled to sunset after 2026. Keeping that in mind, here are the essentials you should know about.
A New Year and New Tax Laws: What Reform Means for IRS Tax Brackets and Deductions
The standard deduction is effectively doubled to $12,000 for single filers and $24,000 for joint filers, while the additional standard deductions for the elderly and blind are retained.
Tax Pro Shows Hidden Benefits of 2018 Tax Reform Law
There are so many cool things that you can do with this new tax law. I will be updating you on more of them soon.
2018 Tax Reform Law Doubles Child Tax Credit
The TCJA doubles increases the child tax credit (CTC) from $1,000 to $2,000 and raises the refundable portion of the CTC to $1,400. In addition, it authorizes a $500 nonrefundable credit for non-child dependents for taxpayers who don’t claim a CTC.
New Tax Law Complicates Property Tax Deduction: How Pre-Paying Can Help
Before the new tax reform law – the Tax Cuts and Jobs Act (TCJA) -- was finalized, Congress made a slight concession to residents of high-tax states by including a limited deduction for state and local taxes (SALT), which includes state income, sales ...
When Will New 2018 Tax Reform Law Take Effect?
On the Friday before Christmas, President Trump signed the new tax reform bill into law. The Tax Cuts and Jobs Act will take effect January 1, 2018, but when will most taxpayers see the effects? When will they see more money in their wallets?
Tax Planning Tips for Cutting 2017 Income Taxes – Tax Reform Edition
There’s still time left for you or your clients to cut their 2017 tax bills. The conventional tax wisdom at the end of the year is to pull in deductions to offset current tax liability and push off income to postpone tax payment. This takes on added ...