by Boris Benic | Feb 19, 2019 | Blog
February 19, 2019
When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes to personal exemptions, standard deductions and the child credit. The degree to which these changes will affect you depends on whether you have dependents and, if so, how many. It also depends on whether you typically itemize deductions.
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by Boris Benic | Feb 12, 2019 | Blog
February 12, 2019
The IRS opened the 2018 income tax return filing season on January 28th. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can. Why? You can potentially protect yourself from tax identity theft — and reap other benefits, too.
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by Boris Benic | Feb 5, 2019 | Blog
February 5, 2019
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments.
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by Boris Benic | Jan 30, 2019 | Blog
Art inspires thought, evokes emotion, and engages the beholder. And, while many people would consider those concepts priceless, when tax time rolls around, the law requires you to assign a dollar amount.
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by Boris Benic | Jan 29, 2019 | Blog
January 29, 2019
If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t received such a letter — can you still claim an itemized deduction for the gift on your 2018 income tax return? It depends.
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by Boris Benic | Jan 22, 2019 | Blog
January 22, 2019
While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing status. But some may see additional tax savings due to their filing status.
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