529 Plans: Not Just for College Anymore

Starting in 2018, 529 plans can be used to pay tuition expenses for elementary and secondary schools, thanks to the Tax Cuts and Jobs Act. From the conference report: The [agreement] modifies section 529 plans to allow such plans to distribute not more than $10,000 in...

“Repeal” of the Individual Mandate

Under the tax bill formerly known as the Tax Cuts and Jobs Act, the individual mandate has not been repealed, it has just been told to stand quietly in the corner in 2019. Or, if you prefer, it has been frozen in ice so that it can be thawed out to wreak havoc later....

Qualified Business Deduction Under New ยง 199A

The tax bill formerly known as the Tax Cuts and Jobs Acts adds new Section 199A, the Qualified Business Deduction. Here is what you need to know. Who Qualifies for the new Section 199A Qualified Business Deduction? Any taxpayer (other than a corporation) that is...