The Trump tax reform plan

Posted on 27. Nov, 2017 by in 2017 Taxes

The Senate Finance Committee passed a version of a tax reform bill on November 9 that was revised on November 14. The House passed its version of tax reform on November 16. The two versions have significant differences making it likely that tax reform will not happen by Trump’s Christmas deadline.

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Other changes proposed by the Senate and House in their tax reform plans

Posted on 20. Nov, 2017 by in 2017 Taxes

In addition to the proposed changes in tax rates and tax brackets, there are numerous proposals for changing rules that affect deductions from income to arrive at the actual income to be taxed.

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Proposed Senate and House version tax brackets and tax rates

Posted on 13. Nov, 2017 by in 2017 Taxes, Tax

Check out the proposed changes in the House and Senate tax plans.

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Corporate rate changes proposed by the Senate and House in their tax reform plans

Posted on 01. Nov, 2017 by in 2017 Taxes, Tax

One of the first tasks in creating a combined version of the Senate and House tax proposals will be to agree upon the tax rates and tax brackets. The versions are within sight of each other in the range of rates, but the difference between four rates and seven creates a major distinction in the […]

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Choosing the right filing status

Posted on 12. Mar, 2014 by in 2013 Taxes, Tax, Tax Reminders

Using the correct filing status is very important when you file your tax return. You need to use the right status because it affects how much you pay in taxes. It may even affect whether you must file a tax return.

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Are you eligible for the Premium Tax Credit?

Posted on 09. Mar, 2014 by in 2013 Taxes, Tax, Tax Reminders

The premium tax credit can help make purchasing health insurance coverage more affordable for people with moderate incomes. To be eligible for the credit, you generally need to satisfy three rules.

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Are your social security benefits taxable?

Posted on 05. Mar, 2014 by in 2013 Taxes, Tax Reminders

Some people must pay taxes on part of their Social Security benefits. Others find that their benefits aren’t taxable. If you get Social Security, the IRS can help you determine if some of your benefits are taxable.

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Deducting medical and dental expenses

Posted on 03. Mar, 2014 by in 2013 Taxes, Tax Reminders

If you plan to claim a deduction for your medical expenses, there are some new rules this year that may affect your tax return.

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IRS warns: Don’t fall for the dirty dozen tax scams

Posted on 22. Feb, 2014 by in 2014 Taxes

Every year, the IRS releases a “Dirty Dozen” list of tax scams for taxpayers to pay attention to. Falling for these scams, such as identity theft or phishing, can cause people to lose money, face penalties or, even, face criminal charges.

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2014 tax season to open January 31

Posted on 23. Dec, 2013 by in 2013 Taxes, Tax

The Internal Revenue Service today announced plans to open the 2014 filing season on Jan. 31.

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