The Standard Deduction’s Double Standard
The 2019 ‘tax season,’ during which most 2018 tax returns are prepared, will soon peak at the April 15 deadline. One key trend is that more people are taking the
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Tag: TCJA
Seniors: Medicare Premiums Could Lower Your Tax Bill
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
Stretch Your College Student’s Spending Money with The Dependent Tax Credit
If you are the parent of a child who is age 17 to 23, and you pay all (or most) of their expenses, you may be surprised to learn you
Does It Still Make Sense for Employers to Reimburse Employees’ Moving Expenses?
Some employers reimburse new hires for moving expenses when they relocate. Others reimburse existing employees whose jobs are moved to other locations. Maybe you do both. Now that there is
Vehicle-Expense Deduction Ins & Outs for Individual Taxpayers
It is 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
Deducting Qualified Business Income
The Tax Cuts and Jobs Act (TCJA) created a new deduction for small business owners who operate pass-through entities. That includes domestic companies operated as sole proprietorships or through S
The New Math of Municipal Bonds
Stock market volatility has some investors thinking about putting some money into bonds, which historically have offered relatively stable prices. One key decision facing bond market investors is whether to
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
Three Big TCJA Changes Affecting 2018 Individual Tax Returns & Beyond
When you file your 2018 income tax return, you will likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized
Why You Should Not 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 do not file until much closer to the April 15 deadline, this year,