Category: Tax Department


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?


Buy business assets before year end to reduce your 2018 tax liability

The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them in service by the end … Read More »

November 6th

Tax Department, Tax Planning. Comments Off on Buy business assets before year end to reduce your 2018 tax liability


Could “bunching” medical expenses into 2018 save you tax?

Some of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you may be able to time controllable medical expenses to your … Read More »

October 23rd

Tax Department, Tax Planning. Comments Off on Could “bunching” medical expenses into 2018 save you tax?


Consider all the tax consequences before making gifts to loved ones

Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime … Read More »

October 17th

Tax Department, Tax Planning. Comments Off on Consider all the tax consequences before making gifts to loved ones

HOBERMAN & LESSER, LLP