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3 Big TCJA Changes Affecting 2018 Individual Tax Returns and Beyond

February 12, 2019

When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes to personal exemptions, standard deductions and the child credit.

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Why You Shouldn’t Wait to File Your 2018 Income Tax Return

February 6, 2019

The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can.

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Investment Interest Expense is Still Deductible, but That Doesn’t Necessarily Mean You’ll Benefit

January 29, 2019

As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA kept intact is for investment interest expense.

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There’s Still Time to Get Substantiation for 2018 Donations

January 23, 2019

If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t received such a letter — can you still claim an itemized deduction for the gift on your 2018 income tax return? It depends.

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What Will Your Marginal Income Tax Rate Be?

January 15, 2019

While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing status. But some may see additional tax savingsdue to their filing status.

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2 Major Tax Law Changes for Individuals in 2019

January 8, 2019

While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under the act for 2019. Here’s a closer look.

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