Change is part of life. The Tax Cuts and Jobs Act (TCJA) has brought sweeping changes to the federal income tax rules for individuals. But how will you and your family be affected? That depends on your specific circumstances. Major life changes—from marriage and birth to divorce and death—can provide opportunities and pitfalls under the… Continue reading

The countdown to Tax Day has begun! The deadline for filing your 2017 individual income tax return this year is Tuesday, April 17, 2018. Drawbacks to a Filing Extension Before you file for an extension, be aware of three potential pitfalls: 1. Underpayment penalties. You still must pay your estimated tax liability for 2017 by… Continue reading

The ability to deduct state and local taxes (SALT) has historically been a valuable tax break for taxpayers who itemize deductions on their federal income tax returns. Unfortunately, the Tax Cuts and Jobs Act (TCJA) limits SALT deductions for 2018 through 2025. Here’s important information that homeowners should know about the new limitation. Thinking about… Continue reading