Contribute to an IRA by April 15 to Claim It on 2018 Tax Returns

The following article was published by the IRS.  It’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on a 2018 tax return. Anyone with a traditional IRA may be eligible for a tax credit or deduction on their 2018 tax return if they make contributions by April 15, …

Continue reading Contribute to an IRA by April 15 to Claim It on 2018 Tax Returns

Advertisements

EITC Provides Tax Break for Low to Moderate Income Taxpayers

The following article was published by the IRS.  The earned income tax credit benefits low to moderate income people and families. The credit can lower the tax someone owes or mean a refund for the taxpayer. Taxpayers can do these things to determine if they qualify for the EITC and make claiming it easier: Review …

Continue reading EITC Provides Tax Break for Low to Moderate Income Taxpayers

What to Do about a Retirement Plan for Your Business?

The following article was published by the SBA. According to the Census Bureau, only 45 percent of workers at companies with 1 to 49 employees had access to a retirement plan. This percentage jumped to 76 percent at companies with 50 to 99 employees, and to 90 percent for companies with 100 or more employees. …

Continue reading What to Do about a Retirement Plan for Your Business?

Several Tax Law Changes May Affect Bottom Line of Many Business Owners

The following article was published by the IRS.  The Internal Revenue Service is reminding business owners that tax reform legislation passed last December affects nearly every business. With just a month left in the year, the IRS is highlighting important information for small businesses and self-employed individuals to help them understand and meet their tax …

Continue reading Several Tax Law Changes May Affect Bottom Line of Many Business Owners

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 passed in December 2017, doubled the maximum Child Tax Credit, boosted income limits to be …

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