January 11, 2019

Most TCJA provisions went into effect in 2018 and apply through 2025 or are permanent, but two major changes affect individuals beginning in 2019: 1) While the TCJA reduced the medical expense deduction threshold from 10% of adjusted gross income to 7.5%, the reduction...

January 4, 2019

Now that 2019 has begun, there isn’t too much you can do to reduce your 2018 income taxes. But it’s smart to begin preparing for filing your 2018 return. Because the TCJA, signed into law at the end of 2017, likely will have a major impact on your 2018 taxes, it’s a go...

December 27, 2018

Retirement plan contribution limits are indexed for inflation, and most have increased for 2019. So you may have opportunities to increase your retirement savings. Limits for 401(k)s, SIMPLEs and IRAs increase by $500, to $19,000, $13,000 and $6,000, respectively. Catc...

December 13, 2018

With 2019 arriving here soon, there are several tax and financial to-dos you should address before 2018 ends. For example: Incur qualifying health care Flexible Spending Account expenses by Dec. 31 to use up these funds or you’ll potentially lose them. Also, max out co...

December 6, 2018

With tax law changes going into effect in 2018 and many rules applying to the charitable deduction, it’s a good idea to check deductibility before making year-end donations. First, total up your potential itemized deductions for the year, including the donations you’re...

January 3, 2018

The Transportation Deduction is another example of how simple structuring changes can maintain deductions removed by the 2017 tax act, formerly “the Tax Cuts and Jobs Act.”. In October, the IRS released Rev. Proc. 2017-58, announcing the adjusted monthly limit of $260...

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The Transportation Deduction is another example of how simple structuring changes can maintain deductions removed by the 2017 tax act, formerly “the T...

New tax law hits commuter benefits....

January 3, 2018

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