Income Taxes

What Tax Advisers say the Midterm Elections Mean for Your Financial Plans: Hint – Multiyear Approach

The WSJ says the midterm elections give Americans an opportunity to map out their next three tax returns. Click here to read more.  

By |2022-12-01T13:32:31-05:00December 1st, 2022|Business/Economic News, Income Taxes|Comments Off on What Tax Advisers say the Midterm Elections Mean for Your Financial Plans: Hint – Multiyear Approach

Tax Reform 2018

How the Tax Reforms Will Take Effect Some of the impact of the Tax Cuts & Jobs Act will be felt later than January 1.   President Donald Trump signed the Tax Cuts & Jobs Act into law on December 22, and on January 1, some key details of the Internal Revenue Code will abruptly change.1 There will be night-and-day change, both figuratively and literally. On January 1, the federal estate tax exemption will double; the standard federal income tax [...]

By |2018-03-20T13:02:39-04:00March 20th, 2018|Business/Economic News, Income Taxes, Personal Finance|Comments Off on Tax Reform 2018

Congress Passes the Tax Cuts & Jobs Act

Congress Passes the Tax Cuts & Jobs Act What will the near-term impact be?  On December 20, Congress passed the Tax Cuts & Jobs Act, sending the final version of the GOP tax reform bill to President Trump’s desk. The legislation alters the Internal Revenue Code to a degree unseen since the 1980s, altering income tax brackets, marginal tax rates, key deductions and exemptions, and the taxation of corporations and pass-through businesses. These are just some of the adjustments.1  How [...]

By |2018-01-03T13:34:55-05:00January 3rd, 2018|Business/Economic News, Income Taxes|Comments Off on Congress Passes the Tax Cuts & Jobs Act

What Could You Do With Your Tax Refund?

What Could You Do With Your Tax Refund? Instead of just spending the money, you could plan to pay yourself.  About 70% of taxpayers receive sizable refunds from the Internal Revenue Service. Just how sizable? The average refund totals about $2,800.1 What do households do with that money? It varies. Last year, consumer financial services company Bankrate asked Americans about their plans for their federal tax refunds. Thirty-one percent of the respondents to Bankrate’s survey said that they would save [...]

By |2017-04-11T14:21:48-04:00April 6th, 2017|Financial Fitness, Income Taxes, Savings and Investing|Comments Off on What Could You Do With Your Tax Refund?
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