Several tax changes are effective in 2022. Some of the more significant changes are: Child Tax Credits Charitable Contribution Limitations Health Savings Accounts Expired Tax Benefits Standard Deduction and Capital Gains Adjustments Retirement Matters Business Matters New 1040 Form for 2022 For information about any additional changes to the 2022 tax law or any other…
Keeping up with the constantly changing tax laws can help you get the most benefit out of the laws and minimize your taxes. Many tax parameters, such as the standard deduction, contributions to retirement plans, and tax rates, are annually inflation-adjusted, while some tax changes are delayed and take effect in future years. On top…
The Premise It’s one of the most important questions that every American tax filer has to answer: should I itemize or take the standard deduction instead? With the Tax Cuts and Jobs Act of 2017 making some fairly significant changes to the way both standard deduction and itemized deduction work, the question may seem even more complicated.…
