As April 15, tax day, looms, many individuals rush to squeak in an IRA contribution for the 2018 tax year…. One question that looms large this year, however, is whether changes to the tax code, which are expected to lead to many fewer taxpayers claiming itemized deductions versus claiming the standard deduction starting in 2018, affect the deductibility of those IRA contributions….
Many Americans have benefited throughout the years by not having to pay taxes on contributions paid into our traditional 401(k) plans and IRA accounts and on the investment returns on those contributions. Deferring taxes for decades has real value….
Not sure if all the changes due to the Tax Cuts and Jobs Act have left you short-changing your income tax withholding? If you failed to withhold sufficient taxes from your pay in 2018, the IRS might grant you some forgiveness….
With the end of 2018 in sight, naturally our minds turn to the upcoming tax season. And this year, there’s plenty of change to consider. With the advent of the , one of the biggest changes for individual filers is to deductions….