Posted: June 6th, 2018 | Author: Rebecca A. Barnes | Filed under: Income Tax Planning | Tags: 2017, 2018, Change, Federal, Income, Law, Nebraska, Omaha, Rates, Tax |
The Tax Cuts and Jobs Act (TCJA) passed in December 2017 created sweeping new tax law changes. This article is about businesses and entities. For more information about changes to individual and family income taxation in 2018, see this article.
The following rates took effect January 1, 2018.
New Federal Tax Rates for 2018 for Businesses/Entities
Read the rest of this entry »
Posted: January 3rd, 2018 | Author: William A. Callahan, CFA, CFP® | Filed under: Income Tax Planning | Tags: 2017, 2018, Change, Federal, Income, Law, Nebraska, Omaha, Rates, Tax |
A sweeping new income tax law has been passed (H.R. 1), known as the Tax Cuts and Jobs Act of 2017, on December 22, 2017. How will it impact you? Let’s take a look.
The following rates take effect January 1, 2018. Read the rest of this entry »
Posted: December 26th, 2017 | Author: William A. Callahan, CFA, CFP® | Filed under: Income Tax Planning | Tags: Change, Federal, Income, Law, Nebraska, Omaha, Rates, Tax |
A sweeping new tax law has just passed in the final days of 2017. Given the swift passage of this legislation so close to year-end, taxpayers have been left with limited time to respond proactively. Nonetheless, below are some last-minute options you may have for reducing your taxes due for 2017 (for tax returns prepared in 2018 for tax year 2017). Learn more about this new, December 2017 U.S. tax law that takes effect January 1, 2018 here.
Taking action in this final week of December, 2017 may be helpful for three reasons: 1) itemized deductions will be limited beginning in 2018, 2) tax rates are generally higher in 2017, rendering deductions more valuable in tax year 2017, and 3) ‘lumping’ itemized deductions, such as charitable contributions, together every few years may become more common under the new tax rules given the higher standard deduction and limitations to itemized deductions. Read the rest of this entry »