BHT&D Certified Public Accountants Blog

Congress Passes Last-Minute Tax Changes

Posted by Joe Turnes on Thu, Jan 30, 2020 @ 12:00 PM

Congress has passed a large number of tax changes, including retirement plan issues, that are effective in 2020, as well as extensions through 2020 of a number of tax provisions that had expired or were about to end.  While Congress passed these changes Dec. 19, 2019, many are not aware of the implications.

The list of changes is quite large, so we have only included those that are most likely to affect individual tax returns. Here is a run-down on some of the new tax provisions:

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Tags: Retirement Plan, IRA, Individual Tax, Tax extenders

Will "The 2014 Tax Increase Prevention Act" Affect My Tax Return?

Posted by Joe Turnes on Mon, Jan 05, 2015 @ 01:08 PM

More than 50 individual and business tax deductions and credits were signed into law in December 2014 as part of “The Tax Increase Prevention Act”. 

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Tags: Tax Provisions, Tax Deductions, Retirement Plan, Depreciation Deduction, Tuition, Section 179, Work Opportunity, Classroom Expenses, Local Income Tax, Tax Credit, IRA, Mortgage, Sales Tax, State Income Tax

Tax Planning Now Could Reduce Your Tax Liability.

Posted by Dwayne Houghton on Tue, Oct 14, 2014 @ 08:54 AM

Tax planning this fall could mean more money in your pocket at April 15th.

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Tags: Individual Tax Return, Tax Planning, Tax Deductions, Retirement Plan, Business Tax, Tax Return, Farm Taxes

How to Contribute More to Retirement than a SIMPLE IRA Plan Allows

Posted by Dwayne Houghton on Mon, Aug 26, 2013 @ 09:30 AM

Sometimes, we are asked, "How can I contribute more to my retirement than is allowed under a simple IRA plan?" In this article, we'll discuss some of the retirement plan options to address this question.

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Tags: Retirement Plan, Simple IRA Plan