The new federal tax law takes effect for tax year 2018. One of the biggest changes is a near doubling of the standard deduction to $12,000 on single returns, $18,000 for head-of-household filers and $24,000 on joint returns. That’s up from $6,350, $9,350 and $12,700 in 2017. Individuals age 65 or older and blind people …
taxes
8 Important Tasks For Your Financial Plan Before Year End
Year end marks several important deadlines that you don’t want to forget. If you fail to meet these deadlines, you will lose out on the benefits for this year. Here are eight important tasks to take care of before Dec. 31, 2018: Max out your employer-sponsored retirement plan. If you still working you need to take the free matching funds …
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7 Year-End Tax Tricks
While you may be thinking about the kind of tricks mischievous kids play on houses that don’t give out Halloween candy, now is also a good time to consider how your taxes for 2018 will shape up. With two months left in the calendar year, tax time will come around faster than teenagers emptying the …
How Does the New Tax Bill Affect Me?
Congress just passed a controversial tax bill. There has been much discussion about what it “could” mean, but now it’s passed, let’s look at what we know. New tax brackets The number of brackets remains the same at seven, but rates have changed and the income levels to which they apply have moved. Notably, the …
What Should I Do About the Tax Overhaul?
Many clients have been asking about the new tax overhaul. They are concerned it might have a negative impact on them and are wondering what action to take right now to protect themselves. There’s no need to panic about the tax proposal. But, there are few key aspects of the plan you should know about. …
Social Security Raise for 2018, Sort Of
One of the great things about the Social Security retirement benefit is that is pays you each month for as long as you live and it has a Cost of Living Adjustment each year to keep pace with living expenses. Recently announced changes to Social Security could mean an increase in retirement benefits for many …
