Tax Planning

p class=BodyIn last month’s newsletter we presented some general facets of the Tax Cuts and Jobs Act (TCJA). In this article, we will explore some portions of the new bill in greater detail./pp class=BodyIn general, the law cuts corporate tax rates permanently and individual tax rates temporarily.

p class=BodyPresident Trump signed the Tax Cuts and Jobs Act into law on Dec. 22, as noted and summerized from a report by a href=https://www.investopedia.com/news/trumps-tax-reform-what-can-be-done/Inv.... The Senate passed the bill on Dec.

Under the Tax Cuts and Jobs Act (TCJA), individual income tax rates generally go down for 2018 through 2025. But that doesn’t necessarily mean your income tax liability will go down. The TCJA also makes a lot of changes to tax breaks for individuals, reducing or eliminating some while expanding others. The total impact of all of these changes is what will ultimately determine whether you see reduced taxes.

A summary on the most talked about provisions of the tax legislation recently passed, with most elements going into effect for the 2018 tax year. Includes information about the changes to itemized deductions, tax brackets, tax rates, and the taxation of investment income.

pOn September 27, 2017, the Trump Administration and select Republican members of Congress released a “unified framework” for tax reform.

p class=BodyTrump administration officials and congressional Republican leaders are negotiating the terms of a tax reform bill.

p class=BodyAlthough the official tax filing date has passed us by, the subject matter of this blog is still relevant because many taxpayers have filed extensions and have a number of months before the extended filing date is final./pp class=BodyImmunity from making mistakes on your tax returns is something that no one can ever really guarantee.

p“And they’re off!” If you’ve ever been to a horse race, the phrase should sound familiar.

pstrong/strongSince 2015, when the Fixing American’s Surface Transportation Act was passed by Congress, world travelers who owe the IRS money have found that it’s no fun to owe a tax debt.

pIt is crucial to understand your small business’s tax responsibilities, and there are real risks if you do not.