The Down Side of the New Tax Reform
The Tax Cuts and Jobs Act (TCJA) included many taxpayer-friendly changes, such as lower tax rates overall, and a much larger standard deduction for individuals. However, not all of the [...]
The Tax Cuts and Jobs Act (TCJA) included many taxpayer-friendly changes, such as lower tax rates overall, and a much larger standard deduction for individuals. However, not all of the [...]
Our clients are some of the most charitable people we know! With the new tax reform, we have heard many client questions on the ongoing ability to take a tax [...]
The Tax Cuts and Jobs Act modifies qualified tuition programs and the exclusion of student loan discharges from gross income. There was much debate regarding changes to other educational benefits [...]
Another big question coming from many clients regarding the new Act’s effect on their returns is about home ownership. Traditionally, tax law provides numerous incentives for home ownership by [...]
There is an old saying that you cannot eat an elephant in one sitting, so over the next few blogs, I am going to take apart the new Tax [...]
The Tax Cuts and Jobs Act was signed by President Trump on December 22nd and is now law! The new law makes sweeping changes to the U.S. tax code [...]
The Conference Committee has reached a deal on tax reform! The bill will now go to the full House and Senate where it is expected to pass. I will [...]
From the Desk of Michael T. McCormick Tax Reform Looks like a coalition of Administration, Senate and House leaders have reached a tentative tax plan. The below is a rough [...]
Illinois budget legislation has been enacted over Gov. Bruce Rauner’s veto that increases corporate and personal income tax rates, creates an income and personal property replacement tax addback for the [...]
From the Desk of Michael T. McCormick President Trump’s New Tax Proposal President Trump outlined his new tax proposal on Wednesday that the Administration intends to submit to Congress. “Today [...]
PATH Act "extenders" and More: Year End Tax Planning Series Continued To continue our discussion on year-end planning considerations, keep in mind that what Congress giveth it occasionally taketh away! [...]
From the Desk of Michael T. McCormick Tax Planning for the Donald Trump Presidency After a heated presidential election, the time is now to look forward and see what changes [...]