Tax Reform

Demystifying the Deduction: Standard vs. Itemized

The benefits of itemized and standard deductions shifted during the 2019 tax reform, leaving most filers with even more questions. In order to file your return with confidence, it’s important to stay informed.  

The standard deductio…

Did Tax Reform Help Me?

If you ask people whether they think the Tax Cuts and Jobs Act of 2017 helped them or cost them more money, you may hear different answers.
If they recently filed their taxes, the foremost thing in their minds may be whether they got a tax refund or no…

Did Tax Reform Help Me?

If you ask people whether they think the Tax Cuts and Jobs Act of 2017 helped them or cost them more money, you may hear different answers.
If they recently filed their taxes, the foremost thing in their minds may be whether they got a tax refund or no…

Change Your Tax Outcome: Adjust Your Withholdings in 2019

Most of the Tax Cuts and Jobs Act provisions went into effect at the beginning of 2018. Although employees felt some effects of the changes in February 2018, when the income tax withholding rates were changed, the real moment of truth comes as taxpayer…

8 Mistakes You Don’t Want to Make This Tax Season

Tax season is here. In fact, we’re already halfway to the deadline!
If you haven’t filed your tax return yet, don’t fret. TaxAct is ready to make your tax preparation process as simple as possible. In fact, by using tax software, you&…

Why Your Tax Refund Could Be Lower Than Expected

If you count on getting a tax refund every year when you file your return, you may be worried about recent reports that tax refunds are lower than usual this year. With all the changes as a result of the Tax Cuts and Jobs Act of 2017, there is a lot mo…

A Mom’s Guide to Tackling Taxes This Year

Moms are busy. That goes without saying. Between chauffering kids to activities and likely working a full-time job, finding extra time for anything else is next to impossible.
But yet, it’s also necessary.

Many moms…

The New Form 1040 and Six Accompanying Schedules

Tax reform of 2017 promised us shorter, simpler, tax forms. We even were told that we might be able to file on a form the size of a postcard – although we may have wondered how that would work out.

The Internal Reve…

The Medical Expense Deduction After Tax Reform

The medical expense deduction didn’t escape the Tax Cuts and Jobs Act. Read on to understand the adjustments made to that common tax deduction.

The medical expense deduction “floor” changed for 2018
After Pr…