How will tax reform impact your 2018 taxes? A review of the TCJA provisions
Now that 2019 has begun, there isn’t too much you can do to reduce your 2018 income tax liability. But it’s smart to begin preparing for filing your 2018 return. Because the Tax Cuts and Jobs Act (TCJA), which was signed into law at the end of 2017, likely will have a major impact on […]
Are you paying your fair share?
Tax policy often hinges on questions of fairness, in particular, are the wealthiest Americans paying enough in taxes compared to middle- or low-income earners. According to recent IRS statistics, high-income earners continue to pay a greater percentage of their income in taxes. Kiplinger reports that in 2012, the most recent year available, the top 1 […]
Be sure to stay on top of quarterly tax payments
To make sure that individuals pay their federal income taxes, the government requires that sufficient funds are withheld from salaries or else it mandates that the taxpayer pay an estimated withholding amount each quarter. Estimated tax payments are typically four equal payments that are normally paid on April 15, June 15, September 15 and January […]