Taxpayers

There’s still time to get substantiation for 2018 donations

2018 Tax Return, Charitable, Deductions, Donations, Income Tax, Individual Income Tax, Internal Revenue Service, Tax, Tax Deadlines, Tax Planning / Douglas Freeman

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. Basic requirements. […]

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A review of significant TCJA provisions impacting individual taxpayers

529 Saving Plan, Exemptions, Gift and Estate Tax, Income Tax, Individual Income Tax, Internal Revenue Service, Tax, Tax Cuts and Job Acts (TCJA), Tax Deduction, Tax Planning, Tax Savings / Douglas Freeman

Now that 2019 has begun, there isn’t too much you can do to reduce your 2018 income tax liability. But it’s smart to begin preparing for filing your 2018 return. Because the Tax Cuts and Jobs Act (TCJA), which was signed into law at the end of 2017, likely will have a major impact on

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