Congress has passed tax reform that will take effect in 2018, ushering in some of the most significant tax changes in three decades. Here are some major items in the new bill that impact individual taxpayers. Reduces income tax brackets. The bill retains seven brackets, but at reduced rates, with the highest tax bracket dropping to [...]
Do you give your child an allowance? A recent report by the American Institute of Certified Public Accountants showed that more than two-thirds of American households provide an allowance to children, and that the allowances average $68 per month in exchange for six hours of household chores. If you're considering giving your child an allowance, [...]
If getting more energy efficient at home or work is on your to-do list, let Uncle Sam help get things kick-started with some timely tax incentives. One example: you can claim a tax credit equal to 30% of the cost of a qualified solar-electric system if the system is installed this year. In some cases, [...]
