Tax Policies
There's Still Time to Contribute to an IRA for 2018
Submitted by Madison Planning Group on February 22nd, 2019Gary Attends Ed Slott and Company Training
Submitted by Madison Planning Group on November 6th, 2018Mid-Year Planning: Tax Changes to Factor In
Submitted by Madison Planning Group on May 17th, 2018Mid-Year Planning: Tax Changes to Factor In
The Tax Cuts and Jobs Act, passed in December of last year, fundamentally changes the federal tax landscape for both individuals and businesses. Many of the provisions in the legislation are permanent, others (including most of the tax cuts that apply to individuals) expire at the end of 2025.
What are the gift and estate tax rules after tax reform?
Submitted by Madison Planning Group on May 7th, 2018
What are the gift and estate tax rules after tax reform?
The Tax Cuts and Jobs Act, signed into law in December 2017, approximately doubled the federal gift and estate tax basic exclusion amount to $11.18 million in 2018 (adjusted for inflation in later years). After 2025, the exclusion is scheduled to revert to its pre-2018 level and be cut approximately in half.
2018 Retirement Plan Contribution Limits
Submitted by Madison Planning Group on February 26th, 2018Tax Cuts and Jobs Act: 529 Plans Expanded
Submitted by Madison Planning Group on February 1st, 2018Tax Cuts and Jobs Act
Submitted by Madison Planning Group on December 21st, 2017Proposed Tax Reform Legislation
Submitted by Madison Planning Group on November 21st, 2017On November 2, 2017, House Republicans released their comprehensive tax reform plan, the Tax Cuts and Jobs Act. Then, on November 9, 2017, Senate Republicans released their own plan. The two plans have much in common, but also have significant differences. Some key provisions of these tax proposals are discussed below.
Examining The Taxpaying Population: Where Do You Fit In?
Submitted by Madison Planning Group on September 28th, 2017
Examining the Taxpaying Population: Where Do You Fit In?
Every quarter, the Statistics of Income Division of the Internal Revenue Service (IRS) publishes financial statistics obtained from tax and information returns that have been filed with the federal government. Recently published reports reflect data gleaned from 2014 individual federal income tax returns.