Posts Tagged ‘tax tips’
6 FAQs About 529 College Savings Plans
College is a large expense and one worth planning for, especially if you want your future college graduate to start their lives with minimal debt. One common way to prepare for such an expense is to open a 529 college savings plan. What is a 529 plan? College savings 529 plans are state-sponsored savings accounts…
Read More6 Tax Deductions That Went Extinct in 2018
The Tax Cuts and Jobs Act of 2017 was called one of the largest tax overhauls in 30 years. It went into effect at the beginning of 2018, which means taxpayers are starting to feel the impact now. Some households will benefit from it, others will not. Here are some deductions that have been eliminated or…
Read MoreEnsuring Your Year-End Donations Are Tax-Deductible
Many people make donations at the end of the year. To be deductible on your 2017 return, a charitable donation must be made by December 31, 2017. According to the IRS, a donation generally is “made” at the time of its “unconditional delivery.” But what does this mean?
Read MoreIRS Says No Decision Yet On 2018 Filing Season Dates
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! by Mike Godfrey, Tax-News.com, Washington No date has yet been set for the filing of individual tax returns in 2018, despite rumors to the contrary, according to the Internal Revenue Service…
Read MoreThe 10 best tips to prepare for the 2017 tax season
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! It’s hard to believe the 2017 tax season is already here, and you’ll be getting the information you need to settle up your 2016 tax return with Uncle Sam. Take advantage…
Read MoreStandard Mileage Rates for 2015
Rather than keeping track of the actual cost of operating a vehicle, employees and self-employed taxpayers can use a standard mileage rate to compute their deduction related to using a vehicle for business. Likewise, standard mileage rates are available for computing the deduction when a vehicle is used for charitable, medical or moving purposes.
Read MoreDetails of the President’s State of the Union Tax Proposals
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! President Barack Obama used Tuesday’s State of the Union address to announce that he will propose tax increases for higher-income individuals and provide tax relief for middle-class taxpayers. Ahead of the…
Read MoreTax Calendar Q1 2015
Your 2015 Tax Calendar Is Here.
Read MoreNew Law Creates Tax-Favored Savings Accounts for Disabled Taxpayers
Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! As part of the larger tax extender legislation passed on Tuesday, Congress approved the Achieving a Better Life Experience (ABLE) Act of 2014 (H.R. 647), which will allow disabled individuals to…
Read MoreSupersizing your charitable contribution deductions
You might want to consider three charitable giving strategies that can help boost your 2014 charitable contribution deduction.
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