Posts Tagged ‘Charitable Contribution’


7 Ways The 2017 Tax Bill Affects Connecticut Taxpayers

 

 

1) Decrease in Income Tax Rates

 

The 2018 income tax rates are as follows:

Single                                        Married Filing Joint 10%  up to $9,525                      Up to $19,050 12% $9,526 to $38,700               $19,051 to $77,400 22% $38,701 … Continue reading »


Fifty Shades of Tax Deductions

No Fifty Shades of Grey here.  Here are Fifty Black and White Tax Deductions and Credits.

1) Standard Deduction – Taxpayers can take the higher of the Standard Deduction or their Itemized Deductions.

2) Medical Expenses

3) Medical Miles – The deduction for medical miles is currently 23 cents per mile.


7 Easy Ways to Decrease Your Income Tax and Keep More Money

 1) Maximize Your Contributions to Your 401(k) Plan

Many employers will offer a 401(k) plan. Employees need to take advantage of this plan. This will likely be one of the cornerstones of your retirement plan. If your employer offers a match, you really need to participate in this plan at least to get the match amount.


2012 Tax Benefits Increase Due to Inflation Adjustments

Every year the IRS must adjust the dollar amounts of a variety of provisions which affect every taxpayer, to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013 include the following:


5 Reasons Taxpayers over Age 70 1/2 Should Make a Charitable Donation From Their IRA

In December, 2010 President Obama signed into law the tax bill which extends many of the Bush-Era federal income tax cuts and the Pension Protection Act of 2006. This law has extended the provision that allows some people to make qualified charitable distributions from their IRAs.


Web Statistics