Posts

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Making Large Gifts Now Won’t Harm Estates After 2025

On November 20th, the IRS announced individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to levels…
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Tax Saving Moves to Improve Your Tax Situation

Since 2018 is coming to a close now is the time to take action to proactively reduce your tax liability before the new year.  Included are a few strategies that may help with your tax situation: Harvest stock losses while substantially…
Tax Law Changes Business

Tax Law Changes Business Chart and Highlights

       
pass-through deduction

Pass-Through Entities and the 20 Percent Tax Break

Small-business owners and partners are scratching their heads over the Tax Cuts and Jobs Act and how the new 20 percent tax deduction for pass-through entities will work. Here's a little background A pass-through entity can be a partnership,…
changes
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Bracket Changes and More From the IRS

You haven't even filed your 2017 taxes yet, but the IRS has already announced changes that will affect your 2018 taxes, which you'll be filing in 2019. The changes were announced in Revenue Procedure 2017-58, which runs 28 pages, but below…
tax plan
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Senate Tax Plan Outline Released

The Senate Republican’s tax reform plan was released last week. Several proposals changed from the House Tax bill. The key changes in the plan from the current law are as follows: Individuals: Current tax rates: Seven brackets from…