Tax Reform Update
Tax Reform Update: The Tax Cuts and Jobs Act Please note that the information presented below is current as of press time and will be updated as information becomes available. At nearly 500 pages and counting, the Tax Cuts and Jobs Bill (H.R. 1) is the first significant tax reform effort undertaken by Congress in
Retirement Contributions Limits
Retirement Contributions Limits Announced for 2018 Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for the tax year 2018 have been announced by the IRS. Here are the highlights: In general, income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to
Flexible Spending Accounts (FSAs)
Flexible Spending Accounts (FSAs) Flexible Spending Accounts or FSAs provide employees a way to use tax-free dollars to pay medical expenses not covered by other health plans. Because eligible employees need to decide how much to contribute through payroll deductions before the plan year begins, now is when many employers are offering employees the option
College Tax Credit
Don’t Forget about College Tax Credits With another school year in full swing, now is a good time for parents and students to see if they qualify for either of two college tax credits or other education-related tax benefits when they file their 2017 federal income tax returns next year. American Opportunity Tax Credit or
Travel Expenses for Charitable Work
Tips for Taxpayers: Travel Expenses for Charitable Work Do you plan to donate your time to charity this holiday season? If travel is part of your charitable giving, for example, driving your personal auto to collect donations from local business, you may be able to these travel expenses on your tax return and lower your