Taxes January 20, 2026
U.S. Reps. Chris Pappas (D-N.H.) and Mike Lawler (R-N.Y.) are proposing a temporary 75% federal tax credit for moderate-income families that pay more than 3% of their annual income on energy costs.
January 20, 2026
January 19, 2026
January 2, 2018
The TCJA also benefits many small businesses while presenting new obstacles. In general, the revised rules for businesses take effect in 2018 and are permanent, unlike most changes for individuals.
January 2, 2018
Most of the key provisions likely to affect individual taxpayers take effect in 2018 (for taxes that will be reported by April 2019), but are scheduled to sunset after 2026. Keeping that in mind, here are the essentials you should know about.
January 2, 2018
The standard deduction is effectively doubled to $12,000 for single filers and $24,000 for joint filers, while the additional standard deductions for the elderly and blind are retained.
January 1, 2018
There are so many cool things that you can do with this new tax law. I will be updating you on more of them soon.
January 1, 2018
The TCJA doubles increases the child tax credit (CTC) from $1,000 to $2,000 and raises the refundable portion of the CTC to $1,400. In addition, it authorizes a $500 nonrefundable credit for non-child dependents for taxpayers who don’t claim a CTC.
December 28, 2017
Before the new tax reform law – the Tax Cuts and Jobs Act (TCJA) -- was finalized, Congress made a slight concession to residents of high-tax states by including a limited deduction for state and local taxes (SALT), which includes state income, sales ...
December 24, 2017
On the Friday before Christmas, President Trump signed the new tax reform bill into law. The Tax Cuts and Jobs Act will take effect January 1, 2018, but when will most taxpayers see the effects? When will they see more money in their wallets?
December 24, 2017
There’s still time left for you or your clients to cut their 2017 tax bills. The conventional tax wisdom at the end of the year is to pull in deductions to offset current tax liability and push off income to postpone tax payment. This takes on added ...
December 22, 2017
After the new tax reform law passed both the House and Senate, there was discussion about holding off the signing until the first week in January. Now, however, the President says he will stick by his Christmas pledge.
December 20, 2017
Generally, the provisions in the TCJA take effect on January 1, 2018. Most of the provisions affecting individuals are temporary and “sunset” after 2025, while the majority of business provisions are permanent. Following is a rundown on some of the ...
December 20, 2017
When enacted, the bill will be effective for the 2018 tax year and beyond. That means most taxpayers will not see the changes of the new law for about a year, when they file their 2018 taxes in April of 2019, although wage earners may see ...
December 20, 2017
People who work a "regular" job, and have taxes withheld from their paychecks, will likely see a change in their federal income tax withholding. For a taxpayer who gets a $1,000 tax cut, this could mean an extra $38 or so per paycheck (if paid biweekly).