Tax planning

Itemized Deductions - Meet the Walking Dead

Itemized Deductions - Meet the Walking Dead

Don't assume this year's taxes and tax deductions will be similar to last year's taxes. The tax reform bill, which passed in December 2017, gutted most of the deductions and maimed many of the rest. Just like characters in . . . .

Standard Deduction for the Blind and Those Over Age 65

Standard Deduction for the Blind and Those Over Age 65

The Standard Deduction is the amount every taxpayer can deduct from their income, and with the changes to the tax law, more taxpayers than ever will now be taking the Standard Deduction. A lesser known fact about the Standard Deduction, however, is it can be increased for those over age 65 or who are blind.

IRS Opens Door to Student Loan Repayment Employee Benefit

IRS Opens Door to Student Loan Repayment Employee Benefit

While it currently only applies to one company, the IRS has opened the door for companies to being offering an employee benefit whereby workers have an opportunity to both pay down student loan debt and save for retirement with the same dollars.

Plan to Hit Bigger Tax Deductions Next Year

Plan to Hit Bigger Tax Deductions Next Year

Financially savvy people know the best time to start on next year’s taxes is the beginning of this year. Your tax return is a historical document about what happened last year, so there is very little you can plan and change. Next year, however, hasn’t happened giving you control over the tax planning environment.

Why File Income Taxes Early If You Aren’t Getting a Refund

Why File Income Taxes Early If You Aren’t Getting a Refund

Waiting until April to do your taxes could cost you more than you think. Submitting your taxes early isn’t just for those expecting a big refund. Advantages of early filing include easier money management if you owe additional taxes, opportunities for greater deductions, and reducing the risk of identity theft and fraud.

Tax Reform: New 2018 Tax Tables, Deductions, & Exemptions

Tax Reform: New 2018 Tax Tables, Deductions, & Exemptions

After lots of argument and fighting, the Tax Cuts and Jobs Act has been passed. Whether you like the tax reform bill or hate it, the reality is we have a new tax code for the foreseeable future. Here are key components of the new tax code which impact most taxpayers.