Charitable IRA rollovers may be especially beneficial in 2018
If you’re age 70½ or older, you can make direct contributions — up to $100,000 annually — from your IRA to qualified charitable organizations without owing any income tax on the distributions. This break may be especially beneficial now because of Tax Cuts and Jobs Act (TCJA) changes that affect who can benefit from the […]
3 traditional midyear tax planning strategies that hold up post-TCJA
With its many changes to individual tax rates, brackets and breaks, the Tax Cuts and Jobs Act (TCJA) means taxpayers need to revisit their tax planning strategies. Certain strategies that were once tried-and-true will no longer save or defer tax. But there are some that will hold up for many taxpayers. And they’ll be more […]
State and local taxes could impact where you retire
The beach? The mountains? The country? Where is your retirement dream home? Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision. Income, property and sales tax Choosing a state that has no personal income tax may appear to be […]
Be aware of the tax consequences before selling your home
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. Home sale gain exclusion […]
Tax reform changes to employee benefits tax breaks: 4 negatives and a positive
The Tax Cuts and Jobs Act (TCJA) includes many changes that affect tax breaks for employee benefits. Among the changes are four negatives and one positive that will impact not only employees but also the businesses providing the benefits. 4 breaks curtailed Beginning with the 2018 tax year, the TCJA reduces or eliminates tax breaks […]
Updated Form W-4 and withholding calculator now available
The new version of Form W-4 and an updated withholding calculator to reflect the recent tax law are now available. The Tax Cuts and Jobs Act, which was signed into law in December, made major tax law changes for individuals, including changing tax rates and tax brackets. The IRS issued in January new withholding tables […]
New withholding tables reflecting tax reform now available
Many Americans can look forward to seeing an increase in their paychecks next month due to the new tax law, but first employers must update withholding information for employees. The IRS released recently the 2018 withholding tables – formally the 2018 Percentage Method Tables for Income Tax Withholding – and employers must begin using them […]
Tax reform: Here’s how you are affected
Congress passed the “Tax Cuts and Jobs Act” on Dec. 21, 2017. Many of the provisions in the Act begin after Dec. 31, 2017, and expire by Jan. 1, 2026. There is a lot to digest and we will have continuing communication with you to more fully explain these changes to the tax law, how […]
A snapshot of the Tax Cuts and Jobs Act
Congress released this week the Tax Cuts and Jobs Act, and we wanted to give you a snapshot of some of the provisions included that could have an impact on you and your business. As the bill moves through the legislative process, many of these details will likely change, but we want you to know […]
‘Unified Tax Reform’ now takes center stage in Congress
Congressional Republicans and the Trump Administration have unveiled what they are calling a “unified framework” for tax reform. While the specifics will likely change as it makes its way through the congressional process, we wanted you to be aware of some of the provisions that could have a direct impact on you. The tax reform […]