Tag Archives: Tax Cuts and Jobs Act

Estimated Taxes Form and Publication Can Help People Pay the Right Amount in 2019

The following article was published by the IRS. The Internal Revenue Service is reminding self-employed individuals, retirees, investors and others who pay their taxes quarterly that the first estimated tax payment for tax year 2019 was due Monday, April 15, … Continue reading

Posted in Corporate Taxes, IRS, Personal Finance, Personal Taxes, Planning Strategies, Self-Employed, Small Business, Tax Law Changes, Tax Tips, Taxes | Tagged , , , , , , , , , , , , ,

Recent Developments That May Affect Your Tax Situation

The following is a summary of important tax developments that occurred in October, November, and December of 2018 that may affect you, your family, your investments, and your livelihood. Business meals. One of the provisions of the Tax Cuts and … Continue reading

Posted in Corporate Taxes, IRS, Personal Taxes, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Tips, Taxes, Uncategorized | Tagged , , , , , , , ,

IRS Issues Standard Mileage Rates for 2019

The following article was published by the IRS. The Internal Revenue Service has issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. … Continue reading

Posted in Corporate Taxes, IRS, Personal Taxes, Self-Employed, Small Business, Tax Deductions, Tax Tips, Taxes | Tagged , , , , , , ,

IRS Clarifies Who is a Qualifying Relative for Family Credit Purposes

Under the TCJA, effective for tax years beginning after Dec. 31, 2017 and before Jan. 1, 2026, you can’t claim a dependency exemption for dependents, including qualifying relatives, but you may be eligible for a $2,000 credit for each qualifying … Continue reading

Posted in Child Tax Credit, Family Credit, Personal Taxes, Tax Credits, Tax Law Changes, Tax Tips, Taxes | Tagged , , , , , ,

New Standard Deduction Versus Itemized Deductions

For 2018, joint filers can enjoy a standard deduction of $24,000 (versus $12,700 for 2017). The new standard deduction for heads of household is $18,000, and single taxpayers (including married taxpayers filing separately) can claim a standard deduction of $12,000. … Continue reading

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IRS Issues Standard Mileage Rates for 2019

The following article was published by the IRS. The Internal Revenue Service has issued the 2019 optional standard mileage rates used to  calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. … Continue reading

Posted in Charitable Organizations, Corporate Taxes, IRS, Non Profits, Personal Finance, Personal Taxes, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Tips, Taxes | Tagged , , , , , , , ,

Here’s How the New Tax Law Revised Family Tax Credits

The following article was published by the IRS. More families will be able to get more money under the newly-revised Child Tax Credit, according to the Internal Revenue Service. The Tax Cuts and Jobs Act (TCJA), the tax reform legislation … Continue reading

Posted in Child Tax Credit, Credit for Other Dependents, IRS, Personal Taxes, Planning Strategies, Tax Credits, Tax Law Changes, Tax Relief, Tax Tips, Taxes | Tagged , , , , , , ,