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Tax season is right around the corner and there are some important changes to be mindful of according to Freedom Retirement Services.
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Tax season is right around the corner and there are some important changes to be mindful of accord to Freedom Retirement Services.
Is it too early to start thinking about your taxes? "No, it's the perfect time of year to start thinking about it," said Bruce MacKinnon, Tax Professional with Jackson Hewitt Tax Service. He says there are a some things to check to make sure you're getting the maximum refund.
Commerce
Time is running out for people to take advantage of tax deductions for this year's taxes. 2018 is the first year for the tax changes for business owners outlined in President Donald Trump's Tax and Jobs Act.
The Trump administration may deliver on its promise to reduce a commonly used tax form to postcard size, but it does not shrink the workload for many Americans filling out their taxes.
What you should know as we kick off tax return season...
A group of local men and women met for a crash course on how to plan for the new tax plan. The law will slash taxes for businesses and corporations, which some say will help the economy.
The final version of the GOP tax bill would create seven tax brackets, including a new 37% rate for top-end wage earners.
The Senate version of the Republicans' tax overhaul is set to be unveiled with billions in tax cuts for people and corporations, repeal of the federal deduction for state and local taxes, and a likely compression of the personal income tax brackets from seven to four.
Revenue
House Republicans have released their tax cut plan - and it would slash the corporate tax rate, lowers taxes for most people and limit a cherished deduction for homeowners.