With the tax filing deadline tomorrow, most of us will be trying to put income taxes out of our mind for the next year. This would be a mistake, because with the passage of the Tax Cuts and Jobs Act (TCJA) in late December come new strategies in 2018 to reduce your tax bill.
Recent changes to federal tax laws may affect the way in which we invest in higher education.
Some possible changes for 2017 taxes include fewer and lower tax brackets, increased standard deduction, repeal of personal exemptions, the end of AMT, and changes for businesses.
When you receive a refund it’s the result of withholding too much in taxes. A $1,000 tax refund is the result of tax that you overpaid throughout the year.
While some tax breaks are straightforward, there are those that may face the chopping block when it comes time to “simplify” our federal and state tax codes.