One thing we know about the most significant tax changes in decades: it will affect your tax return. While other tax code changes throughout the years may have tweaked obscure credits and rules, the tax reform signed into law in December 2017 made chan…
Now is the perfect time to perform a mid-year review of your business activity, including your tax liability. Staying on top of these five things throughout the year will help you save time, money and make tax time much smoother!
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Most tax reform bills affect a few people. Some bills may affect many people. This is the first tax reform bill most of us can remember that drastically changes the way every taxpayer in America has his or her tax liability calculated.
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For years, businesses were allowed to deduct 50 percent of the cost of business-related meals and entertainment on their tax returns. For some businesses, especially those that rely on entertaining clients, customers, and other associates to keep their…
At the end of June, the IRS released an early draft of the newly revised Form 1040. If you’re not familiar with that term, Form 1040 is the standard tax form individuals use to file their income tax returns. For instance, if you itemized your ded…
[INFOGRAPHIC] 10 Key Tax Reform Changes for Individual Tax Filers – TaxAct Blog
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What Are Tax Forms?
Income tax forms are the official government documents the IRS requires you to fill out when you file your taxes. Usually the more complicated your finances are the more tax forms you may need to fill out.
On top of the federal tax…
Welcome to a new day — a day that sports betting fans will remember for the rest of their lives.
On May 14, 2018, the Supreme Court struck down a federal law that effectively banned commercial sports betting in most all states. As a result of ove…
You’ve probably heard about the adjustments to the state and local tax deduction. The 2017 tax reform made sweeping changes to how much you can deduct.
To better understand the changes that went into effect for 2018, he…
There’s always plenty of hubbub about tax refunds, but in all reality, lots of Americans end up owing the IRS money after they file. Self-employed people even need to pay a quarterly tax bill! Fortunately, the IRS makes it both simple and conveni…
