Article Highlights: Increased Standard Deduction Tax-Exempt Income Impairment-Related Work Expenses Financially Disabled Earned Income Tax Credit Child or Dependent Care Credit Special Medical Deductions Qualified Medicaid Waiver Payments ABLE Accounts
Article Highlights: Payroll Taxes Corporate Officers Employees of a Corporation Reasonable Salaries Factors Flow-Through Deductions Wage Limitations
Article Highlights: Income Deferral Earnings Deferral Individual Retirement Accounts Retirement Accounts Bank Savings Short- and Long-Term Capital Gains Education Savings Accounts Health Savings Accounts When you are attempting to save money for your children’s future education or your retirement, you may do so in a number of ways, including investing in the stock market, buying […]
If you dread every minute of the time you spend on accounting, you should know how QuickBooks Online can change your outlook. How long would it take you to determine: What your total expenses for this quarter are? Whether or not your business is profitable as of today? How much you’ve sold every month this […]
Article Highlights: • SALT Tax Limits • State Work-arounds • Converting Tax Deductions to Charitable Contributions • IRS Regulations • Taxpayer Beware
Article Highlights: High-Income Professionals Specified Service Trade or Business Sec. 199A Deduction Defined Contribution Retirement Plans Defined Benefit Retirement Plans Tax Savings
Original Article by Catherine Morehouse Oregon Supreme Court approves tax to fund state EV rebates The Oregon Supreme Court approved the use of a privilege tax to fund the state’s Clean Vehicle Rebate Program on Sunday, after AAA Oregon/Idaho and Trucking Associations Inc. challenged the tax in November 2017, saying it violated Oregon’s Constitution. The program is integral to Democratic Gov. Kate Brown’s 2017 initiativeto […]
Article Highlights: Selecting a Type of IRA Missing out on the Saver’s Credit Taking Distributions before Retirement Age Failure to Keep Designated Beneficiaries Current Overlooking the Spousal IRA Failing to Recognize Low Tax Distribution Opportunities Social Security Income and Traditional IRA Distributions Rollover Errors Failing to Take a Required Minimum Distribution Knowing the Beneficiary Options […]
Article Highlights: Parents Attempting to Shift Income to Children Kiddie Tax Tax Reform Changes Tax on Child’s Unearned Income Tax on Child’s Earned Income
The dust has not yet settled from the Tax Cuts and Jobs Act (TCJA), passed into law in December 2017, and the House Ways and Means Committee is already considering another round of tax changes. The committee chair, Kevin Brady, Republican from Texas, wants to include input from stakeholders such as business groups, think tanks […]