Expanded Use of Educational Savings Accounts (529 Plans)

The Tax Cuts and Jobs Act (TCJA) has made some changes to qualified tuition programs (commonly referred to as 529 plans) which expands the use of 529 plans to expenses for grades kindergarten through grade 12. The new law affects distributions made in 2018 and later years. A 529 plan distribution is tax-free if it […]

How Changes to Individual Deductions Affect Your 2018 Tax Bill

The Tax Cuts and Jobs Act (TCJA) that affects tax returns beginning with the 2018 tax year has many changes that may affect your 2018 taxes. The law could increase your standard deduction or it could eliminate some tax breaks you have been used to in prior years. As you may know, the IRS allows […]