Tag: tax deductions
Spring and summer are the optimum seasons for selling a home. And interest rates are currently attractive, so buyers may be out in full force in your area. Freddie Mac reports that the average 30-year fixed mortgage rate was 4.14% … Read More »
Tax Planning. Comments Off on Selling your home? Consider these tax implications
While the number of plug-in electric vehicles (EVs) is still small compared with other cars on the road, it’s growing — especially in certain parts of the country. If you’re interested in purchasing an electric or hybrid vehicle, you may … Read More »
Tax Planning. Comments Off on Plug in tax savings for electric vehicles
Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open the doors, you generally have to spend a lot of … Read More »
Tax Planning. Comments Off on How entrepreneurs must treat expenses on their tax returns
Americans who are 65 and older qualify for basic Medicare insurance, and they may need to pay additional premiums to get the level of coverage they desire. The premiums can be expensive, especially if you’re married and both … Read More »
Tax Planning. Comments Off on Seniors: Medicare premiums could lower your tax bill
Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA contribution for the 2018 tax year between now and the tax filing deadline and claim … Read More »
Tax Planning. Comments Off on Make a deductible IRA contribution for 2018. It’s not too late!
Donating to charity is a key estate planning strategy for many people. It reduces the size of your taxable estate and it can help you leave a lasting legacy with organizations you care about.
The benefit of making such gifts during … Read More »
Estate Planning Briefs. Comments Off on Have you properly substantiated your 2018 charitable gifts?
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 »
A tried-and-true year end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you … Read More »
Tax Planning. Comments Off on Donate appreciated stock for twice the tax benefits
When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom supplies out of pocket. A special tax break allows these educators to deduct some of their … Read More »
The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The deduction generally applies to income from sole proprietorships, partnerships, S … Read More »
Tax Planning. Comments Off on Close-up on the new QBI deduction’s wage limit