Wednesday, January 17, 2018

Tax Reform: Topics of Special Interest for Individuals

– Revamped Repeal of the ACA Penalty for Individuals The Affordable Care Act (ACA) requires individuals to pay a penalty if they aren't covered by a health plan that provides at least minimum essential coverage. That penalty is also known as the “shared responsibility payment.” Unless an exception applies, the penalty is imposed for any […]

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Wednesday, January 10, 2018

Tax Cut Law: Mostly Good News for Employers and Employees

The most immediate concrete change the Tax Cuts and Jobs Act (TCJA) will bring about for employers is new payroll tax withholding rates. Here's the latest word from the IRS: “We anticipate issuing the initial withholding guidance in January reflecting the new legislation, which would allow taxpayers to begin seeing the benefits of the change […]

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Is Social Media Activity Putting You or Your Clients at Risk?

Winter can be a busy time for travel. Snowbirds try to escape the cold. Grandparents long to visit loved ones in distant cities. Jetsetters want to ring in the New Year in a memorable locale. Regardless of the season, travel brings photo opportunities that are prime for posting on Facebook, Twitter, Instagram and other social […]

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Tuesday, January 2, 2018

Landmark Tax Reform Bill Passes

The new tax reform law — commonly referred to as the “Tax Cuts and Jobs Act” (TCJA) — is the most significant tax legislation in decades. Now businesses and individuals are trying to digest the details and evaluate how the changes will impact their tax situation. Fortunately, your tax advisors can help you figure things […]

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How Might the New Tax Reform Law Affect You?

President Trump and Republican members of Congress say the Tax Cuts and Jobs Act (TCJA) will bring $3.2 trillion in tax cuts. Now that the bill has passed, everyone wants to know how much they'll save. Unfortunately, the tax bill won't be good news for everyone. Here's a comparison of how tax results for a […]

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Thursday, December 21, 2017

Give Back and Save Taxes with Charitable Contributions

As year end approaches, you may be thinking about making some charitable donations. Here's a rundown of the potential tax breaks for your generosity. Donating Clothing and Household Items When it comes to your old clothes, furniture, linens, electronics, appliances, and the like, the general rule is that you can claim deductions only for items in […]

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Wednesday, December 13, 2017

Keep Tax Reform Proposals in Mind When Making Last-Minute Year-End Moves

As 2017 winds down, it's time to consider making some moves to lower your federal income tax bill and position yourself for tax savings in future years. This year, the big unknown factor is whether major tax reform proposals will be enacted. Even if all goes according to the GOP timeline, the changes generally won't take […]

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