The Further Consolidated Appropriations Act of 2020, signed into law on December 20, 2019, extended a number of expired tax provisions for business and individuals through 2020. It also included several retirement plan changes and repealed three health care taxes. Here’s what you need to know: Continue reading
January 27, 2020 marked the start of this year’s tax filing season. Complicating matters is a newly revised Form 1040, U.S. Individual Income Tax Return. With more than 150 million individual tax returns expected to be filed for the 2019 tax year, here’s what individual taxpayers can expect: Continue reading
Many taxpayers opt for the standard deduction because it’s easier, but sometimes itemizing your deductions is the better choice–often resulting in a lower tax bill. Whether you bought a house, refinanced your current home, or had extensive gambling losses, you may be able to take advantage of tax breaks for taxpayers who itemize. Here’s what to keep in mind: Continue reading
While the 2020 tax filing season promises to be less confusing than 2019, there are still a number of changes that taxpayers should be aware of. Continue reading
Every year, it’s a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead. Continue reading
Here’s what business owners need to know about tax changes for 2019. Continue reading
As we close out the year and get ready for tax season, here’s what individuals and families need to know about tax provisions for 2019. Continue reading
If you own a historic building, you should know about a tax credit called the rehabilitation tax credit, which offers an incentive to renovate and restore old or historic buildings. Continue reading
If you’ve invested in Bitcoin and decide to sell, you need to consider the impact of virtual currency transactions on your taxes. Here’s what you should know: Continue reading
With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax burden for next year. Continue reading
