Category - Taxes

1
Bring Clarity to Your 2020 Taxes
2
Best Tax Software for 2019
3
Avoid Shock at Tax Time with Tax Planning
4
2018 Year-End Tax Planning Tips
5
Tax Reform that May Affect You

Bring Clarity to Your 2020 Taxes

Whether you just filed yesterday, filed earlier in 2019 , or have asked for an extension, as Policygenius.com says, you should “Start determining your 2020 tax strategy today.”  This is especially true if you filed an extension because you want to be better prepared next year: “Although Tax Day 2020 is a year away, remember that your taxes are a look back at the prior calendar year.”

This may seem like an obvious statement when you scramble to find receipts and documentation as the tax deadline approaches but have you considered that you do not have to struggle to account …

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Best Tax Software for 2019

Regardless of whether you are doing your personal or business taxes, you need a tax software program that accommodates your needs. Incomplete forms and errors are the last things that you want to deal with when filing your taxes, and filing as a military family can add even more confusion as you may be dealing with more unique complications. Having a high-quality and accurate product that is developed for your specific situation is critical. We’ve taken the time to find the top 15 tax software products on the market, outlining their key features to help you pick the right one.… Read More

Avoid Shock at Tax Time with Tax Planning

Many of us simply work all year and then approach tax season with much dread. We delay doing our taxes for as long as possible because we don’t want to face this unpleasant task. Even people who feel assured of a refund may not file right away. But perhaps the recent changes to the tax code will encourage people to take a new approach after this year: tax planning. Rather than being surprised at what happens, you can plan for your taxes. You can make decisions earlier in the year that will help soften the blow of having to gather… Read More

2018 Year-End Tax Planning Tips

Yep, it’s that time of year again. While the stock markets were busy correcting in October, making for a very volatile month, our thoughts turn to year-end tax planning.

Now is the time to take steps to cut your 2018 tax bill. Here are some relatively foolproof year-end tax planning strategies to consider, taking into account changes included in the Tax Cuts and Jobs Act (TCJA).

Year-end Planning Moves for Individuals

Game the Increased Standard Deduction Allowances. The TCJA almost doubled the standard deduction amounts. For 2018, the amounts are $12,000 for singles and those who use married filing separate …

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Tax Reform that May Affect You

With all that is happening, taxes may be the last thing you want to think about. Even so, it is good to spend some time doing a financial check at the midpoint of the year so avoid scrambling at the end of the year. If you are not aware, new tax reform was signed into law at the end of 2017. Some of these changes are temporary in that they will last in 2025; others will last until the  tax code is rewritten again.

Your Complete Guide to the 2018 Tax Changes” from The Motley Fool offers an …

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