Affordable Care Act in St Petersburg Florida

3 Affordable Care Act Taxes Postponed by Congress

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On January 22, President Trump signed into law a short-term government funding bill. It ended the brief government shutdown by funding the federal government through February 8. It also suspends the following Affordable Care Act (ACA) taxes, which were designed to help fund...

6 Last-Chance Tax Breaks: Do You Qualify?

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The new Tax Cuts and Jobs Act (TCJA) significantly changes some parts of the tax code that relate to personal tax returns. In addition to lowering most of the tax rates and increasing the standard deduction, the TCJA repeals, suspends or modifies some valuable tax deductions. As...
Individuals in St Petersburg Florida

Tax Reform Law: Topics of Special Interest for Individuals

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As you’ve heard by now, the Tax Cuts and Jobs Act (TCJA) includes a number of changes that will affect individual taxpayers in 2018 and beyond. Significant attention has been given to the reduced tax rates for most individuals and the new limit on deducting state and local...
Student Loans in St Petersburg Florida

5 tips for keeping student loans under control

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Given the skyrocketing cost of higher education, fewer and fewer families can afford college without some form of financial assistance. For many students, loans are what make the difference between attending college and not. But it’s important to plan these loans carefully to...
Estate Planning in St Petersburg Florida

Wills and living trusts: Estate planning imperatives

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Well-crafted, up-to-date estate planning documents are an imperative for everyone. They also can help ease the burdens on your family during a difficult time. Two important examples: wills and living trusts. The will A will is a legal document that arranges for the distribution...
Marriages in St Petersburg Florida

4 financial planning tips for second marriages

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Every year, a substantial percentage of weddings aren’t first-time nuptials but second (or subsequent) marriages. Here are four tips to help such partners better manage the situation: Take inventory. Identify the assets and liabilities each person brings to the union. If one...
Kiddie Tax in St Petersburg Florida

New Law Revamps the Kiddie Tax

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Congress enacted the so-called “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income (especially from investments) to children in lower tax brackets. Congress recently revamped this tax under the Tax Cuts and Jobs Act (TCJA)....
Employment Taxes in St Petersburg Florida

Owner-employees need to stay up to speed on employment taxes

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Keeping up with the complexity of the Internal Revenue Code is challenging for an individual and even more so for a business owner. But, if you’re someone who handles both roles — an owner-employee — the difficulty level is particularly high. Nonetheless, it’s important to stay...
Tax Calendar in St Petersburg Florida

Tax Calendar

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This tax calendar notes important tax deadlines for the first quarter of 2018. January 16 — Individual taxpayers’ final 2016 estimated tax payment is due. January 31 — File 2017 Forms W-2 (“Wage and Tax Statement”) with the Social Security Administration and provide copies to...
Business in St Petersburg Florida

Let’s Take a Closer Look at New Business Tax Reforms

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The Tax Cuts and Jobs Act (TCJA) provides businesses with more than just lower income tax rates and other provisions you may have heard about. Here’s an overview of some lesser-known, business-friendly changes under the new law, along with a few changes that could affect...