nscript

Category: Taxes

6 posts
Tax Season Has Started

Tax Season Has Started

Millions of taxpayers typically file their tax return at the beginning of the year to get a refund. Until January 8, 2019, it was uncertain when refunds would be paid out due to the government shutdown that began on December 22, 2018. Starting today, January 28, 2019,...

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How You Lost the $4,050 Personal Exemption

How You Lost the $4,050 Personal Exemption

One of the goals of the Tax Cuts and Jobs Act bill was to simplify taxes. In an effort to simplify taxes, the per person exemption was eliminated. This exemption previously allowed you to claim $4,050 per person in your tax household and exclude that amount from your...

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Are you still on the hook to have health insurance?

Are you still on the hook to have health insurance?

With the implementation of the Tax Cuts and Jobs Act bill, there were some important changes to the Affordable Care Act, or what you may refer to as ObamaCare. The biggest misconception of the new tax law is that the mandate to have health insurance was eliminated...

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Filers Who Itemize: New Limitations to Taxes You Can Claim

Filers Who Itemize: New Limitations to Taxes You Can Claim

The Tax Cuts and Jobs Act Law limits the amount of state and local taxes (SALT) you can claim to $10,000 per year (or $5,000 if married filing separately) if itemizing your deductions on your 2018 return. Previously, there was not a dollar limitation on the amount of...

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What Students Should Know About the Tax Cuts and Jobs Act Law

What Students Should Know About the Tax Cuts and Jobs Act Law

Good news students... the implementation of the Tax Cuts and Jobs Act Law did not change the student credits that you may know as the American Opportunity Credit, the Lifetime Learning Credit and the Student Loan Interest Deduction. Not so good news... the Tuition and...

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IRS to Issue Tax Refunds Despite Government Shutdown

IRS to Issue Tax Refunds Despite Government Shutdown

Millions of taxpayers typically file their tax return at the beginning of the year to get a refund. Until today, it was uncertain when refunds would be paid out due to the government shutdown that began on December 22, 2018. Under previous government shutdowns, the...

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