fbpx

Category: Tax Tips

Solo 401(k) Could Be Your Best Retirement Plan Option

Solo 401(k) Could Be Your Best Retirement Plan Option

Solo 401(k) Could Be YourBest Retirement Plan Option Have you procrastinated about setting up a tax-advantaged retirement plan for your small business? If the answer is yes, you are not alone. Still, this is not a good situation. You are paying income taxes that could...
Kiddie Tax Changes

Kiddie Tax Changes

Avoiding the Kiddie Tax after Tax Reform In December 2017, Congress enacted the Tax Cuts and Jobs Act (TCJA) and changed how your children calculate their tax on their investment-type income. The TCJA changes led to much higher tax bills for many children. On December...
Eight Changes in the SECURE Act You Need to Know

Eight Changes in the SECURE Act You Need to Know

Eight Changes in the SECURE Act You Need to Know  As has become usual practice, Congress passed some meaningful tax legislation as it recessed for the holidays. In one of the new meaningful laws, enacted on December 20, you will find the Setting Every Community Up for...
Congress Reinstates Expired Tax Provisions

Congress Reinstates Expired Tax Provisions

The big five tax breaks that most likely impact yourForm 1040 Congress let many tax provisions expire on December 31, 2017, making them dead for your already-filed 2018 tax returns. In what has become a much too common practice, Congress resurrected the dead...
Tax Issues of Converting Your Residence into a Rental Property

Tax Issues of Converting Your Residence into a Rental Property

Tax Issues of Converting Your Residence into a Rental Property The simple maneuver of converting your personal residence to a rental property brings with it many tax rules, mostly good when you know how they work. The first question that arises when you convert a...