In the quest to reduce your tax bill, year end planning can only go so far. Tax-saving strategies take time to implement, so review your options now. Here are three strategies that can be more effective ...
It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and Jobs Act (TCJA) might reduce your deduction ...
With the dawn of 2019 on the near horizon, here’s a quick list of tax and financial to-dos you should address before 2018 ends: Check your FSA balance. If you have a Flexible Spending Account (FSA) for ...
... long-term capital gains and qualified dividends. For 2018 through 2025, these brackets are no longer linked to the ordinary-income tax brackets for individuals. So, for example, you could be subject ...
With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be hoping to not think about taxes for the next ...
... to fill your shoes. Depending on the amount of support your replacement needs, it may take years for this individual to be truly ready. Also bear in mind that succession planning and estate planning ...
... might reduce the amount of that deduction if you reduce your income. 2. Maximize your retirement contributions. What could be better than paying yourself? Federal tax law encourages individual taxpayers ...
... for certain long-term care services required by a chronically ill individual also qualify. Smoking-cessation and weight-loss programs. Amounts paid for participating in smoking-cessation programs and ...
... for Medicare health insurance can be combined with other qualifying health care expenses for purposes of claiming an itemized deduction for medical expenses on your individualtax return. This includes ...
... individual returns, as well as other returns requested. Prepares trust returns. Reviews the less complex business tax returns. Reviews amended returns. Reviews carryback returns for NOLs and others. ...
... to two states: State 1 has no individual income tax, and State 2 has a flat 5% individual income tax rate. At first glance, State 1 might appear to be much less expensive from a tax perspective. What happens ...
... would cap the property tax deduction for individuals at $10,000. The initial version of the Senate tax bill would eliminate the property tax deduction for individuals altogether. In addition, tax rates ...
... interest and charitable contributions. If an elimination of the medical expense deduction were to go into effect in 2018, there could be a significant incentive for individuals to bunch deductible medical ...
... for individuals to keep an eye on. Back in December of 2015, Congress passed the PATH Act, which made a multitude of tax breaks permanent. However, there were a few valuable breaks for individuals that ...
... will be technology-driven and leadership is expected to identify best practices and consistently implement process improvements. Leadership for this practice area includes leading a team of individuals ...
... leadership is expected to identify best practices and consistently implement process improvements. Leadership for this practice area includes leading a team of individuals that will support this service ...
... U.S. Federal Tax Compliance Services International Structuring Services Federal and State Tax PlanningIndividual International Tax Services Estate and Gift Planning Transfer Pricing Services ...
... laws, an individual who didn’t itemize deductions could claim a limited federal income tax write-off for cash contributions to IRS-approved charities for the 2020 and 2021 tax years. Unfortunately, the ...
... view of who may be a responsible person under this provision. It has been interpreted to include a range of individuals, within or outside the business, who possess significant control or influence over ...
... out-of-pocket expenses of $7,500 ($15,000 for family coverage). In 2023, the annual contribution limit for HSAs is $3,850 for individuals with self-only coverage and $7,750 for individuals with family ...