by Brian Snyder CPA | Jan 29, 2019 | Federal Taxes, HOME PAGE NEWS, Interest Rates
The Federal Reserve Board, which sets the target interest rate that forms the basis for all other interest rates, has raised rates dramatically in 2018. We hear it’s planning more raises for 2019. A little history: From September 2007 to December 2008 the Federal...
by Peter Augenblick | Jan 29, 2019 | Estate Taxes, Federal Taxes, HOME PAGE NEWS, PA Tax Matters
The last chance the government has to tax you is when you die, and federal and state governments each take their cut. Current federal law allows a single individual to pass $11,180,000 to beneficiaries without them paying tax. (For married couples, it’s twice that...
by Peter Augenblick | Jan 9, 2019 | Federal Taxes, HOME PAGE NEWS
As soon as the tax law changed, Uncle Sam elected to change the withholding tables, reducing the federal tax withheld from salaries and wages. So you may have seen an instant increase in your pay check. However, this means that while you probably owe less tax in 2018...
by Peter Augenblick | Jan 9, 2019 | Federal Taxes, HOME PAGE NEWS
Good news: tax rates are reduced significantly. Not-so-good news: many deductions you may have counted on are removed or capped. DEDUCTIONS. Standard deduction for married couples is up: $24,000. But state and local itemized deductions are capped at $10,000....
by Peter Augenblick | Jan 9, 2019 | Federal Taxes, HOME PAGE NEWS
Yes, it will impact you. Do all the benefits really go to the top 1 percent, as we’ve read? We’ve modeled the new tax law for many clients and we’re finding that it reduces tax rates for almost everyone. We try not to generalize, so remember that the reality still...
