Category: Tax Department


The 2018 gift tax return deadline is almost here

Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2018 gift tax return — or whether filing one would be beneficial even if … Read More »

March 12th

Tax Department, Tax Planning. Comments Off on The 2018 gift tax return deadline is almost here


Vehicle-expense deduction ins and outs for individual taxpayers

It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and Jobs Act (TCJA) might reduce your deduction compared to what you claimed on your 2017 return.

For 2017, miles … Read More »

March 6th

Tax Department, Tax Planning. Comments Off on Vehicle-expense deduction ins and outs for individual taxpayers


Beware the Ides of March — if you own a pass-through entity

Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March … Read More »

February 27th

Tax Department, Tax Planning. Comments Off on Beware the Ides of March — if you own a pass-through entity


Some of your deductions may be smaller (or nonexistent) when you file your 2018 tax return

While the Tax Cuts and Jobs Act (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. Here are five deductions you may see … Read More »

February 19th

Tax Department, Tax Planning. Comments Off on Some of your deductions may be smaller (or nonexistent) when you file your 2018 tax return


3 big TCJA changes affecting 2018 individual tax returns and beyond

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, the Tax Cuts and Jobs Act … Read More »

February 12th

Tax Department, Tax Planning. Comments Off on 3 big TCJA changes affecting 2018 individual tax returns and beyond


Why you shouldn’t wait to file your 2018 income tax return

The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can. Why? You can potentially … Read More »

February 5th

Tax Department, Tax Planning. Comments Off on Why you shouldn’t wait to file your 2018 income tax return


What will your marginal income tax rate be?

While the Tax Cuts and Jobs Act (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 — and, in some cases, due … Read More »

January 15th

Tax Department, Tax Planning. Comments Off on What will your marginal income tax rate be?


Year-end tax and financial to-do list for individuals

With the dawn of 2019 on the near horizon, here’s a quick list of tax and financial to-dos you should address before 2018 ends:

Check your FSA balance. If you have a Flexible Spending Account (FSA) for health care expenses, you … Read More »

December 12th

Tax Department, Tax Planning. Comments Off on Year-end tax and financial to-do list for individuals


2019 Q1 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to … Read More »

December 4th

Tax Department, Tax Planning. Comments Off on 2019 Q1 tax calendar: Key deadlines for businesses and other employers


Does prepaying property taxes make sense anymore?

Prepaying property taxes related to the current year but due the following year has long been one of the most popular and effective year-end tax-planning strategies. But does it still make sense in 2018?

The answer, for some people, is yes … Read More »

November 27th

Tax Department, Tax Planning. Comments Off on Does prepaying property taxes make sense anymore?

HOBERMAN & LESSER, LLP