A review of significant TCJA provisions impacting individuals

A review of significant TCJA provisions impacting individuals

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...
Tax Cuts and Jobs Act: Key provisions affecting individuals

Tax Cuts and Jobs Act: Key provisions affecting individuals

On December 20, Congress completed passage of the largest federal tax reform law in more than 30 years. Commonly called the “Tax Cuts and Jobs Act” (TCJA), the new law means substantial changes for individual taxpayers. The following is a brief overview of some of the...
Who can take the American Opportunity Tax Credit?

Who can take the American Opportunity Tax Credit?

If you have a child in college, you may be eligible to claim the American Opportunity Tax Credit on your 2016 income tax return. If, however, your income is too high, you won’t qualify for the credit — but your child might. There’s one potential downside: If your...