Under the New Tax Laws for 2019 Is Charity Still Worth It?

While many people choose to give to charity to support their communities, the ability to benefit financially made giving more attractive. Taxpayers could itemize their deductions and claim their charitable contributions, giving them the ability to lower their tax burden. However, with the new 2019 tax laws, fewer people are going to benefit from itemizing, decreasing the odds that they will receive a deduction for giving to charity. Changes to the Tax Law When you file your taxes, you typically Read more [...]

IRS Announces 2018 Tax Rates

Few people look forward to paying their taxes, but nonetheless the Internal Revenue Service has announced its 2018 tax rates, along with associated deductions, credits and exemptions. Highlights of the 2018 Tax Rates Highlights include adding another $500 to the maximum annual contribution to most of the numbered retirement plans, along with the government's Thrift Savings Plan.If you apply for ein in 2018 you may need to use a ein filing service. Numbered Plans The maximum contribution for Read more [...]