Jan 16, 2019 | Firm Updates, Individual Tax
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 to their filing status. But some may see...
Jan 9, 2019 | Firm Updates, Individual Tax
While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under the act for 2019. Here’s a closer look. 1. Medical expense deduction threshold With rising health care...
Jan 7, 2019 | Firm Updates, Individual Tax
The Tax Cuts and Jobs Act suspended miscellaneous itemized deductions, including the deduction for unreimbursed employee business expenses (expenses ordinary and necessary to your profession, but not reimbursed by your employer). Under the old law, some employees who...
Dec 18, 2018 | Firm Updates, Individual Tax, Tax Tips
Do you have investments outside of tax-advantaged retirement plans? If so, you might still have time to shrink your 2018 tax bill by selling some investments—you just need to carefully select which investments you sell. Try balancing gains and losses If you’ve sold...
Dec 12, 2018 | Firm Updates, Individual Tax, Tax Tips
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 need to incur qualifying expenses by...
Dec 7, 2018 | Firm Updates, Individual Tax, Tax Tips
Year-end is a great time to think about organizing your documents and getting your records ready for the upcoming tax season. There are some items that you will need to keep and record throughout the year to supplement the records you will receive after year-end....
