While we’re still in the speculation stage as to what the final tax reform bill will look like, the various proposals put forth by President Trump and the House indicate that tax relief for small businesses could well be on its way. Continue reading
Did you know that when you sell an asset you may have to pay taxes on the proceeds? Knowing the rules on capital gains and losses can help you make decisions about whether it makes sense to sell. This article from NJCPA.org answers some key questions. Continue reading.
Recently, the Trump administration announced a one-page tax plan that, if enacted, could have major ramifications for the U.S. economy. At this point it’s not certain if this plan will even be brought before Congress by year-end. While short on details, this article from Kiplinger highlights some of the major provisions. Continue reading.
With the end of the year quickly approaching, now is the time to make any last-minute moves that can improve your tax position. Additionally, if President-elect Donald Trump follows through on his promise to significantly reduce tax rates for both individuals and businesses, there are some tax-shifting strategies you may want to consider. Continue reading
Now that the smoke has started to settle somewhat from this divisive presidential election, it’s a good opportunity to begin looking at President-elect Trump’s possible tax proposals. It has been said that tax reform within his first 100 days in office will be a priority. This article from Forbes outlines six tax tips that can help you prepare for a Trump presidency. Continue reading.
On Friday, October 14, Gov. Chris Christie signed a bill raising the gasoline tax 23 cents per gallon. The legislation also increases the retirement income tax exclusion along with eventually eliminating the estate tax, increasing the Earned Income Credit for the working poor, decreasing the sales tax rate by three-eighths of a percentage point, and creating a tax deduction for veterans. Continue reading
If you are divorcing or recently divorced, taxes may be the last thing on your mind. However, these events can have a big impact on your wallet. Alimony and a name or address change are just a few items you may need to consider. Here are some key tax tips to keep in mind. Continue reading.