Tax Reform: Capital Gains Rates

Capital Gains Rates Before and After the New Tax Law Are you confused about the federal income tax rates on capital gains and dividends under the Tax Cuts and Jobs Act (TCJA)? If so, you’re not alone. Here’s what you should know if you plan to sell long-term investments or expect to receive dividend payments…

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Passenger Vehicles Depreciation Allowances

The Tax Cuts and Jobs Act (TCJA) expands the first-year depreciation deductions for vehicles used more than 50% for business purposes. Here’s what small business owners need to know to take advantage. Depreciation Allowances for Passenger Vehicles For new and used passenger vehicles (including trucks, vans and electric automobiles) that are acquired and placed in…

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Business Interest Expense Deductions

IRS Sheds Light on New Limit on Business Interest Expense Deductions The Tax Cuts and Jobs Act (TCJA) imposes a limit on deductions for business interest for taxable years beginning in 2018. The limit, like other aspects of the law, has raised some questions for taxpayers. In response, the IRS has issued temporary guidance in…

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Tax Reform and Roth IRAs

Are Roth IRAs Still Beneficial Under the New Tax Law? The Roth IRA remains an attractive retirement planning vehicle for many individuals after the changes made by the Tax Cuts and Jobs Act (TCJA). Here’s what you need to know about Roth IRAs and Roth IRA conversions under the new law. Tax Advantages Roth IRAs…

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“Extenders” Extended Through 2017

New Budget Agreement Brings Additional Tax Changes The ink on the Tax Cuts and Jobs Act (TCJA), which swept in a tidal wave of changes to federal tax rules, had been dry for only seven weeks before Congress passed more legislation that could affect many taxpayers. The Bipartisan Budget Act of 2018 (BBA), which President…

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