... take the standard deduction. Under the Tax Cuts and JobsAct, fewer people are itemizing because the law significantly increased the standard deduction amounts. So even if you donate a car to charity, ...
... The Tax Cuts and JobsAct dramatically enhanced Section 179 expensing and first-year bonus depreciation for asset purchases. In fact, many businesses may be able to write off the full cost of most equipment ...
... was 7.5% for the 2018 tax year.) The Tax Cuts and JobsAct nearly doubled the standard deduction amounts for 2018 through 2025. For 2019, the standard deduction amounts are $12,200 for single filers, ...
... tax credit that may be available to you. It’s not as valuable as the child tax credit, but when you’re saving for college or paying tuition, every dollar counts! Background of the credits The Tax Cuts ...
It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and JobsAct (TCJA) might reduce your deduction ...
While the Tax Cuts and JobsAct (TCJA) reduces most income tax rates and expands some tax breaks, it limits or eliminates several itemized deductions that have been valuable to many individual taxpayers. ...
When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, ...
... refunds in the past could find themselves owing tax when they file their 2018 return due to tax law changes under the Tax Cuts and JobsAct (TCJA) and reduced withholding from 2018 paychecks. Need help? ...
... But special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments. Some of these were enhanced by the Tax Cuts and JobsAct (TCJA) and may provide ...
While the Tax Cuts and JobsAct (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — ...
... Tax Cuts and JobsAct (TCJA) — generally going into effect beginning in 2018, most businesses and their owners will be significantly impacted. So, refreshing yourself on the major changes is a good idea. ...
... underwithheld due to changes under the Tax Cuts and JobsAct. Use its withholding calculator (available at irs.gov) to review your situation. If it looks like you could face underpayment penalties, increase ...
... the Tax Cuts and JobsAct (TCJA) eliminate the benefits. What’s changed? The TCJA made two changes that affect the viability of this strategy. First, it nearly doubled the standard deduction to $24,000 ...
... than in the past because of changes under the Tax Cuts and JobsAct (TCJA). Catching up Catch-up contributions are additional contributions beyond the regular annual limits that can be made to certain ...
The Tax Cuts and JobsAct (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying ...
... be only $3,700. Watch your step First, remember that the Tax Cuts and JobsAct nearly doubled the standard deduction, to $12,000 for singles and married couples filing separately, $18,000 for heads ...
... to time controllable medical expenses to your tax advantage. The Tax Cuts and JobsAct (TCJA) could make bunching such expenses into 2018 beneficial for some taxpayers. At the same time, certain taxpayers ...
... a rate of 40% to transfers in excess of your available gift and estate tax exemption. Under the Tax Cuts and JobsAct, the exemption has approximately doubled through 2025. For 2018, it’s $11.18 million ...
... tax-advantaged benefits Insurance isn’t the only type of tax-free benefit you can provide — but the tax treatment of certain benefits has changed under the Tax Cuts and JobsAct: Dependent care assistance. You ...
... may be especially beneficial now because of Tax Cuts and JobsAct (TCJA) changes that affect who can benefit from the itemized deduction for charitable donations. Counts toward your RMD A charitable ...