Nine Ways to Start a Business Budget to Spur and Guide Growth
Business owners: Read nine key ways to create an effective budget that can spur and guide the growth of your company in this week’s Business Tip.
New Tax Law Cracks Down on Home Mortgage Interest
With the Tax Cuts and Jobs Act, Congress has yanked the rug out from under those with equity debt on their homes. (It’s no longer deductible!) We explain in this week’s Tax Tip.
Alternative Minimum Tax – Back To Targeting the Very Rich
If you are subject to AMT, you may see your AMT calculations more closely resemble your standard tax liability calculations because of the changes to how your standard tax liability is calculated and the higher exemptions for AMT. Read the Article on Sean Hannity’s website This article is for demonstrative and academic purposes and is…
Alternative Minimum Tax: A Simplified Example
The Tax Cuts and Jobs Act made changes to medical deductions, state and local taxes, home mortgage interest, miscellaneous itemized deductions, personal exemptions and standard deductions—some of which may have triggered AMT for the average taxpayer. hensslervideo_personalfinance
Alternative Minimum Tax—Back To Targeting the Very Rich
Troy Harmon, CFA, CVA, is joined by Managing Associates, Shawna L. Theriault, C.P.A., CFP®, CDFA®, and K.C. Smith, CFP®, to discuss how the Tax Cuts and Jobs Act changed the game for middle income taxpayers who may have been subject to alternative minimum tax in the past. With higher exemptions and phaseouts, far fewer people will pay AMT.
Medical Deductions & The New Tax Law
Those with substantial medical bills will be delighted to learn that medical deductions were retained in the Tax Cuts and Jobs Act, and the AGI floor was lowered to 7.5% for 2017 and 2018. We explain in this week’s Tax Tip.
Tax Cuts and Jobs Act: Impact on Businesses
The Tax Cuts and Jobs Act made some significant changes for businesses, including lower corporate tax rates, provisions for pass-through entities, expanded Section 179 expensing and bonus depreciations, and provisions for foreign income. We explain in this week’s Business Tip.
The Kiddie Tax Ensures the IRS gets Some of Your Child’s Unearned Income
In Today’s Marietta Daily Journal, Bil Lako, CFP®, explains the changes to the Kiddie Tax that discourages parents from shifting income-producing assets to a child. Read the Article
Will Your 2018 Withholding Be Right?
With the late passage of the Tax Cuts and Jobs Act, the IRS is scrambling to update withholding tables for employers. Keep an eye on your net pay. If the change is too radical you could end up owing tax. We explain in this week’s Tax Tip.
Tax Cuts and Jobs Act: 529 Plan Transfers to ABLE accounts
529 Plan account owners can now transfer funds without federal tax consequences from a 529 plan to an ABLE account, a tax-advantaged account for disability-related expenses for individuals who become blind or disabled before age 26. We explain in this week’s Financial Tip.