... before year end to save taxes. This year, you also need to keep in mind the impact of the Tax Cuts and Jobs Act (TCJA). While the TCJA didn’t change long-term capital gains rates, it did change the tax brackets for ...
... that you must itemize deductions to deduct charitable contributions. Now that the Tax Cuts and JobsAct has nearly doubled the standard deduction and put tighter limits on many itemized deductions (but ...
... deduct some of their expenses. This educator expense deduction is especially important now due to some changes under the Tax Cuts and JobsAct (TCJA). The old miscellaneous itemized deduction Before ...
If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and JobsAct (TCJA) could also have an impact. Wins and ...
The Tax Cuts and JobsAct (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more businesses. ...
... deductible contributions — and then discover you would have been better off if you hadn’t converted it? Before the Tax Cuts and JobsAct (TCJA), you could undo a Roth IRA conversion using a “recharacterization.” ...
There was talk of repealing the individual alternative minimum tax (AMT) as part of last year’s tax reform legislation. A repeal wasn’t included in the final version of the Tax Cuts and JobsAct (TCJA), ...
... Congress created the “kiddie” tax back in 1986. Since then, this tax has gradually become more far-reaching. Now, under the Tax Cuts and JobsAct (TCJA), the kiddie tax has become more dangerous than ever. ...
The Tax Cuts and JobsAct (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The deduction generally ...
... can be beneficial if the income at the grant date is negligible or the stock is likely to appreciate significantly. With ordinary-income rates now especially low under the Tax Cuts and JobsAct (TCJA), ...