The tax deadline is less than a week away! If you’re busy scrambling to put together your return and don’t think you’ll have it done in time, you can always file a six-month extension. Here’s what to keep in mind.
Did you realize that with a traditional 401(k) or IRA you have to pay taxes on your withdrawals once you hit retirement?
Ready to use your tax refund to splurge on a lavish vacation or a new wardrobe?
You may want to reconsider!
During tax time, do you frantically rummage through your documents to find everything you need, or think you’ll need? It’s easy to just throw pieces of paper in different places around the house, like W-2s in a closet and 1099s in a drawer.
The Senate and House have officially voted to change the U.S. tax code, something that hasn’t been accomplished in more than 30 years. Generally speaking, corporations will be getting a permanent tax cut, and you, as an individual, will be getting a temporary tax cut.
It may be December, but in reality, tax time is right around the corner. Whether you like to do your taxes as soon as you receive your documents or procrastinate until the last minute, it may be good to know when you may be missing out on certain tax breaks.
More than 30 years after tax reform last passed through Congress, the House and Senate have officially passed their ‘reconciled’ tax reform bill. It’s now on to President Trump’s desk to officially become law.
It appears tax reform will be voted on this week after a committee produced legislation that combined the different versions from the Senate and House. It's expected that President Trump will sign the bill into law once it’s approved by both chambers.
The Senate worked overtime over the weekend to pass its version of tax reform by a razor thin margin of 51 to 49 votes. This puts the U.S. much closer to seeing tax reform passed, possibly in 2017.