Meara Welch Browne’s Tax Partner, Julie Welch, was quoted in CNBC's Grow.Acorns.com "It's Not Too Late to Bring Down Your Tax Bill From 2018 - Here's How" written by Sam Becker. The article outlines the last-minute technique of contributing to an Individual Retirement Account. You can read her quotes and the entire article on CNBC's grow.acorns.com website at the following link: https://grow.acorns.com/last-minute-ira-contributions-can-lower-your-tax-bill/
Meara Welch Browne’s Tax Partner, Julie Welch, was quoted Thursday in The Washington Post – “Personal Finance” section. In the article titled "The April 15 tax deadline is close. Why you should file on time.” by Michelle Singletary, Julie answered what has been frustrating people most during this tax season. You can read her quote and the entire article on The Washington Post website at the following link: https://www.washingtonpost.com/business/2019/04/04/april-tax-deadline-is-close-why-you-should-file-time/?noredirect=on&utm_term=.6becf2b648d6
Meara Welch Browne’s Tax Partner, Julie Welch, was quoted in "How to Use The New Tax Law to Cut Your Tax Bill" written by Robert Powell and published in TheStreet. The article outlines opportunities for those saving for retirement to cut their tax bill this year and in years to come. You can read her quotes and the entire article on TheStreet website at the following link: https://www.thestreet.com/retirement/ira/roth-ira/how-to-use-the-new-tax-law-to-cut-your-tax-bill-now-14889282
Meara Welch Browne’s Tax Partner, Julie Welch, was quoted Sunday in The New York Times – “Business” section in two articles. The first was titled "The 8 Most Common 2019 Tax Return Questions, Answered by Experts” by Ron Lieber and Tara Siegel-Bernard. The second was titled "Smaller Tax Refunds Surprise Those Expecting More Relief" by Tara Siegel-Bernard. In the first article, Julie answered the question about why, if someone believed they were getting a tax cut, their return is showing [...]
Meara Welch Browne’s Tax Partner, Julie Welch, along with Ed Slott, president of Ed Slott & Company, were interviewed on CNBC's Squawk Alley about the tax benefits of selling stocks before the end of the year. You can view CNBC's interview at the following link: https://www.cnbc.com/video/2018/12/27/tax-experts-nows-the-time-to-sell-stocks-claim-losses.html
Today the IRS issued proposed regulations and a news release providing guidance to individuals who are considering making large gifts to take advantage of the increased gift/estate tax exclusion levels that are effective for 2018 through 2025. The current exclusion amount is now $11,800,000 but is scheduled to revert to pre-2018 levels after 2025 ($5,000,000 as adjusted for inflation). The concern was that an estate tax after 2025 could apply to gifts made during 2018 through 2025 (known as Clawback). [...]
Meara Welch Browne’s Tax Partner, Julie Welch, was quoted Thursday in USA Today “Business” section article titled “Tax Planning: 6 ways to lower the amount you owe” by Robert Powell. The article discusses ways to cut your tax bill before year end. You can read Julie's quote and the entire article on USA Today website at the following link: https://www.usatoday.com/story/money/columnist/2018/11/07/tax-planning-6-ways-lower-amount-you-owe-government/1648902002/
Tax benefits from medical expenses are available by taking an itemized deduction for medical expenses, using a Flexible Spending Account (FSA) through an employer, or using a Health Savings Account (HSA) for those who have qualified high deductible health insurance. For the 2018 itemized deduction, only medical expenses more than 7.5% of your adjusted gross income are deductible. That is set to increase for 2019 to 10% of adjusted gross income unless new legislation is enacted. Sarah O’Brien, a writer [...]
Missouri Governor Mike Parson signed a tax bill into law that primarily takes effect in 2019. Here are the highlights of the changes: TAX CUT The top individual rate drops from 5.9% to 5.4% beginning in 2019 The top rate can drop by 0.1% for each year that Missouri meets stated revenue targets – eventually dropping the maximum rate down to 5.1% TAX INCREASE The deduction for Federal income taxes (currently a maximum of $5,000 single and $10,000 married) [...]
The IRS just announced revised inflation-adjusted amounts for 2018. As a result of the Tax Cuts and Jobs Act that was enacted December 22, 2107, the IRS had to modify some inflation-adjusted amounts it announced in late 2017. The new law requires the inflation adjustments to be based on the chained Consumer Price Index for all Urban consumers. The basic exclusion amount for a decedent dying in 2018 is $11,180,000.
Meara Welch Browne’s Tax Partner, Julie Welch, was quoted Sunday in The New York Times – “Business” section article titled “Dealing With the Changes in the Tax Code” by Jan M. Rosen. The article discusses the new tax law and its impact on taxpayers. It also maps out tips from tax professionals on things to be aware of when it comes to your 2018 tax return. Julie’s quote can be found in the section of the article “To plan for [...]
The 40th Annual Recent Developments in Federal Taxes covering many aspects of the new tax law is Saturday, January 27, 2018. Julie Welch is moderator of the program and will also give the Individual Income Tax Update. Here is a link to the brochure for more information.