In simplistic terms, the Tax Cuts and Jobs Act doubled the standard deduction and eliminated several tax deductions. Ideally, less people will itemize; however, many may pay less in taxes. Let’s look at a family, married filing jointly and with three children. hensslervideo_personal_finance
Research Analyst Nick Antonucci, CVA, joins Managing Associate, Shawna L. Theriault, C.P.A., CFP®, CDFA®, and Senior Associate Jarrett McKenzie, CFP®, CWS®, to delve deeper into the Tax Cuts and Jobs Act, taking a look at how the larger standard deduction and child tax credit could affect families now that they’re losing personal exemptions.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how going forward, Traditional to Roth IRA conversions are a permanent decision for investors. Read the Article
You heard the headline that “service businesses” weren’t eligible for a 20% deduction on pass-through income, however, you can still get the deduction if your joint taxable income is less than $315,000. We explain in this Business Tip.
Henssler Financial provides a simplified example how some “specified service or trade businesses” can still qualify for the 20% deduction on qualified business income. hensslervideo_personal_finance
Not all loan interest is the same! The rules for deducting interest on your taxes depend on whether the loan proceeds are used for personal, investment, or business activities. We explain in this week’s Tax Tip.
Hannity finance expert and Principal of Henssler Financial, Bil Lako, CFP®, weighs in on the new tax bill.
Employers who misclassify workers as independent contractors can end up with substantial tax bills
and face penalties for failing to pay employment taxes and not filing the required tax forms. Read more in this week’s Business Tip.
There are far more issues related to gambling than you might imagine, and they may be impacting your taxes more than you know. We explain in this week’s Tax Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, delves into the Tax Reform Bill and how to navigate going forward.
