Many are waking up to a new reality: The shrinking tax refund. News reports, articles and internet postings are bemoaning lower refunds after filing taxes this year. As you may know this is the result of a number of factors with the new tax laws. Although the standard deduction is higher for singles and […]
Category: Wake County CPA CFP Firm
REFUNDS TRANSFORMED TO TAX BILLS
Taxpayers may be surprised when expecting refunds and instead finding they owe tax bills. Many whose returns provided refunds may instead pay taxes with their 2018 returns. This is due to a few of the new rules in the tax reform. First, the tax brackets have changed and secondly you no longer can take personal […]
NEW TAX LAW NO LIGHT READING
The new tax law is over 1,000 pages and has significant impact on your filing for 2018 and beyond. Are you ready for some light reading? Changes in 2018 tax law could impact your investments and savings plans. Here are a few of the modifications made to the tax code: retirement savings, IRAs and Roth […]
NEW RULES MAY CAUSE HEADACHES
All the changes to the tax code and new rules may cause headaches for your tax preparation this year. In the last post, we mentioned that the change in tax laws is the most significant in 30 years. These changes will affect how taxes are prepared for your 2018 return. These wide-range modifications of the […]
