Now that the Coronavirus Aid, Relief, and Economic Security (CARES) Act has been signed into law, you’re probably wondering if and how it applies to you. We recently put together an educational video on the key provisions for individuals and small business owners.Read More
What options does a small business have from the Coronavirus Aid, Relief and Economic Security (CARES) Act? In this blog, Christopher Plagge, CPA, EA, reviews the options and their requirements. Still stumped? Our flow chart for small business owners can help you determine what you qualify for.Read More
This update from Chris Plagge, Savant’s Director of Tax and Business Services, explains who is eligible for relief under the new provisions put out by the IRS and outlines the mechanics of filing your return and estimated payments.Read More
The tax on a child’s investment and other unearned income (i.e. the Kiddie Tax) has gone through some major changes with the passing of the Tax Cuts and Jobs Act (TCJA). This article will provide guidance on how the changes may affect you.
The Kiddie Tax is the method of taxing and reporting unearned income of certain children.Read More
It’s time for some real talk about a few unpleasant topics: divorce and alimony. No one goes into a marriage expecting to get divorced, but the reality is that a large number of individuals will sadly become a statistic. We want to think that our relationship is different, we are different, and we will beat the national odds that 41% of first marriages, 60% of second marriages, and 73% of third marriages end in divorce.Read More
Your 2018 tax return (filed in spring 2019) may look quite different from what you are used to seeing.
For starters, there will no longer be any personal exemptions (the old tax law allowed $4,050 per person in deductions, subject to income limitations). These were taken out with the Tax Cuts and Jobs Act (TCJA), enacted in late December 2017, and “combined” with the standard deduction.Read More
Now that the dust has settled a bit from the new tax law, it’s time to talk about tax planning strategies moving forward into 2018. There certainly are a number of changes packed into the latest legislation; however, we will be focusing on the new, increased standard deduction and how that will impact your charitable donations.Read More
Congress is enacting the biggest tax reform law in 30 years, one that will make fundamental changes in the way you, your family, and your business calculate your federal income tax bill, and the amount of federal tax you will pay.
Since most of the changes will go into effect next year, there’s still a narrow window of time before year-end to soften or avoid the impact of the new provisions and to best position yourself for the tax breaks thatRead More
For the first time since Ronald Reagan’s 1986 Tax Reform Act, major tax reform has been enacted. Republican lawmakers worked until Friday, Dec. 15 on blending the House and Senate proposals into how the law currently stands. After some minor changes due to parliamentary exceptions raised by the Democrats, the Bill cleared both the House and Senate on Dec. 20 and is expected to be signed into law by President Trump.
The overarching goal of Republican lawmakers was to simplify theRead More