The New 2018 Tax Act Means Big Changes for Taxpayers

Big tax law changes mean even bigger opportunities for taxpayers. Take a look at some of the changes to come out of the Tax Cuts and Jobs Act and consider how they could affect you.

New 1095-B and 1095-C due date: March 2 2018

The IRS said it will allow large health insurance companies to delay sending out health insurance confirmation forms. The Jan. 31 due date has been delayed until March 2. Keep in mind that you can still fill your tax return without this form as long
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Watch Out for Scams This Tax 2018 Season

The IRS is warning taxpayers to keep on high alert for the next few months. Scammers may try to get their hands on your money or tax return by collecting your personal or financial data. According to the IRS, its employees will never: Threaten to
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Review Your Withholdings in 2018

The IRS recently announced new withholding guidelines for all employers and payroll companies. Employers are expected to update your paycheck on or before Feb. 15. That means you’ll need to review the amount withheld from your paycheck. Why? Because the Tax Cuts and Jobs Act
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Simplify Your Inheritance

Did you know that if you inherit a retirement account from a loved one you may be required to pay income tax on the whole thing right away? With smart planning, you may be able to avoid this scenario. That includes creating a formal stretch-out
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Avoid High RMD Penalties in 2018

Required Minimum Distribution (RMD) Required Minimum Distribution (RMD) rules are pretty strict. If you don’t want to face a hefty fine, you must withdraw a certain amount of money every year from tax-deferred retirement plans like 401(k)s and traditional IRAs after you reach age 70½.
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Do You Have a Household Employee? Don’t Ignore the Nanny Tax

It’s simple enough to overlook this tax related to household employees. But you could be in trouble if you do. Here’s why you’d better pay attention to the nanny tax.

Keep Good Records for 2018 Mutual Funds

Brokers are required to report your cost basis to the IRS. Without good recordkeeping, you may not be able to prove you were overtaxed because of incorrect basis reporting by your broker. You can avoid problems caused by errors in reporting by keeping detailed records
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Is Your Business Susceptible to Payroll Fraud?

Although you may not want to hear it, all businesses can be hit with payroll fraud. Find out how it happens and what you can do about it.

New Year, New Estate Plan Updates for 2018

It’s time to ask yourself: What changed during 2017? A divorce, a birth, a move and other events can affect your tax and estate planning. New tax changes can also alter your current plans. The best way to ensure that your wishes are met is
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