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Tag Archives: deduction

Small business tax deduction a puzzler

NEW YORK — Millions of small business owners will be in uncharted waters this tax season as they try to determine if they qualify for a deduction that could exempt one-fifth of their income from taxes. Five months after the IRS issued guidelines to help business owners and tax advisers understand how the complex deduction works, accountants and tax attorneys ...

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TaxWatch: Getting divorced? Time is running out to lock in that tax deduction on alimony payments

There soon won’t be a silver lining to paying spousal support. Time is running out to lock in a federal tax deduction on alimony payments. President Trump’s new tax code will abolish tax deductions on alimony for divorce decrees on Jan. 1, 2019 and thereafter. “This will create a total reevaluation of divorce cases,” said Malcolm Taub, partner and co-chair ...

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Tax Guy: How to game the new standard deduction — and 3 other ways to cut your 2018 tax bill

With year-end rapidly approaching, now is the time to take steps to cut your 2018 tax bill before it’s too late. Here are four foolproof year-end strategies to consider, taking into account changes included in the Tax Cuts and Jobs Act (TCJA). 1. Game the increased standard deduction allowances The TCJA almost doubled the standard deduction amounts. The 2018 standard ...

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Tax Guy: How to game the new standard deduction — and 3 other ways to cut your 2018 tax bill

With year-end rapidly approaching, now is the time to take steps to cut your 2018 tax bill before it’s too late. Here are four foolproof year-end strategies to consider, taking into account changes included in the Tax Cuts and Jobs Act (TCJA). 1. Game the increased standard deduction allowances The TCJA almost doubled the standard deduction amounts. The 2018 standard ...

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Personal Finance Daily: How to game the new standard tax deduction and why you should talk about your salary

Happy Monday, MarketWatchers! Check out today’s top personal finance stories to start out your week. Birthing the next royal baby will probably be cheaper than the average American birth Most royals are born in a luxury suite. Your financial adviser’s ‘sleep easy’ portfolio may be riskier than you think The 60/40 portfolio <a href="https://www.marketwatch.com/story/your-portfol… MarketWatch.com – All MarketWatch News – ...

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Blue states file suit against the US over tax deduction limits

New York, Connecticut, Maryland and New Jersey are suing the federal government, alleging that the new $ 10,000 cap on state and local tax deductions (SALT) is an “unconstitutional assault on states’ sovereign choices.” div > div.group > p:first-child”> New York governor Andrew Cuomo announced the <a class="inline_asset" href="https://a… Personal Finance

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