The Tax Cuts and Jobs Act made changes to 529 Plans, allowing for withdrawals for private K-12 tuition. hensslervideo_personal_finance
If you schlep people around town as part of a ride-sharing service, you are considered self-employed and have a unique tax situation that warrants attention! We explain in this week’s Tax Tip.
In simplistic terms, the Tax Cuts and Jobs Act doubled the standard deduction and eliminated several tax deductions. Ideally, less people will itemize; however, many may pay less in taxes. Let’s look at a family, married filing jointly and with three children. hensslervideo_personal_finance
Research Analyst Nick Antonucci, CVA, joins Managing Associate, Shawna L. Theriault, C.P.A., CFP®, CDFA®, and Senior Associate Jarrett McKenzie, CFP®, CWS®, to delve deeper into the Tax Cuts and Jobs Act, taking a look at how the larger standard deduction and child tax credit could affect families now that they’re losing personal exemptions.
Marriage, separation, divorce or widowed: Those are all highly emotional relationship events, and the last thing on your mind is probably your tax filing status. We explain what you need to know in this week’s Tax Tip.
You heard the headline that “service businesses” weren’t eligible for a 20% deduction on pass-through income, however, you can still get the deduction if your joint taxable income is less than $315,000. We explain in this Business Tip.