Quick Recap of New GOP Tax Bill Beginning 2018
The new year brings a new and sweeping one thousand page tax bill. Here are some of the highlights for individual taxpayers: The deduction for state, local income, sales, and property taxes are to be limited to $10,000. Eliminates the deduction for unreimbursed business expenses and miscellaneous expenses such as tax preparation fees and attorney […]
Tax Planning For The Unknown
The possibility that there will be major tax reform in the next several months makes tax planning for this year more important than ever. The possibility of lost deductions along with some lowering of tax rates for next year, means that you can save big on taxes in if you accelerate deductions in 2017 and […]
Play Slots, Pay Taxes: The IRS Wants a Piece of More Jackpots
By BEN STEVERMAN at AccountingToday Published: WASHINGTON, D.C. (June 9, 2015) (Bloomberg) Nothing kills the thrill of a big-money win at the casino quite like a tax form — and soon the grasp of the taxman could be felt before the jackpot celebration stops at a lucky slot machine. By law, gamblers must pay taxes on every dollar […]
Our Ridiculous Approach to Retirement
By TERESA GHILARDUCCI Published: July 21, 2012, New York Times I WORK on retirement policy, so friends often want to talk about their own retirement plans and prospects. While I am happy to have these conversations, my friends usually walk away feeling worse — for good reason. Seventy-five percent of Americans nearing retirement age in […]
The Road Ahead for ObamaCare: A Guide
Now that President Obama’s health-care law has survived review by the U.S. Supreme Court, what will it actually do? posted on July 13, 2012, at 10:40 AM, TheWeek.com Thanks to ObamaCare, starting in 2014, uninsured people who don’t qualify for Medicaid will have to get insurance or pay a tax penalty. What is the purpose […]
