Tax Laws

News

How New Tax Law Changes 529 Plans

States Consider Potential Income Shortfalls

The 2017 Tax Cuts and Jobs Act will bring significant changes to individual taxpayers, but states will also be affected by some of the law's...

Upvote 0

College Funds (529 Plan) Tax Returns Investing & Retiring Taxes

News

How New Tax Law Affects Homeowners

The Changing Landscape of Deductions

After weeks of negotiations between the House and the Senate, Congress finally passed tax legislation designed to lower taxes and stimulate ...

Upvote 0

Property Taxes Tax Returns Taxes Tax Laws

Q&A

Asked by patriciapotpie

How much in medical expenses does one have to have in order for it to be tax deductible?

Answered by Steffanie Staples
Insurance Agent in South Jordan, UT

Expense amounts greater than 7.5% of AGI

Tax Returns Taxes Tax Laws Federal Income Taxes

Q&A

Asked by Dave

How does a loss on a rental property sale work? Can it be carried forward?

Upvote 0
Answers 1

Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC

Hi Dave, Check with your tax advisor for specifics in your situation. There are exceptions for Real Estate professionals and special rental loss offsets for landlor...

Taxes Tax Laws Federal Income Taxes

News

New 2019 Tax Laws

What Every Taxpayer Needs to Know Now

It's been almost a year since the Tax Cuts and Jobs Act (TCJA) brought sweeping changes to the American tax system. Since there have been ju...

Upvote 2

Taxes Tax Laws

News

My State Parties Harder Than Your State

Sin Taxes Across the Country

Written by Jeff Hoyt
Editor-in-Chief

Upvote 0

Sales Taxes Taxes Tax Laws State Taxes

Q&A

Asked by Lee Muth

What counts as profit for the home selling tax exclusion?

Upvote 1
Answers 3

Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC

Hi Lee, Refinancing your home to get the tax exemption instead of just selling it for a higher profit may not give you more profit. Why not just sell it for a lower...

Taxes Tax Laws

Q&A

Asked by ktrentham54

I have divorce papers that states we alternate claiming my son on our taxes. My ex has claimed every year. How do I report this? i

Upvote 0
Answers 1

Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC

Hi, This can be a problem for both parents. Rather than tell you which of you is eligible, there is a process: Do you have the signed IRS form 8332? Bring this to ...

Taxes Tax Laws Federal Income Taxes

News