Many provisions of the Internal Revenue Code are complicated. Proper interpretation of the rules and regulations contained in these provisions requires the assistance of an experienced and knowledgeable tax professional. The third part of our series about the most confusing…
Donald Trump’s most current tax plan promises to save taxes for most individual taxpayers. One way is the elimination of the alternative minimum tax. What are some other ways? Trump’s tax plan: Adapts the current rates for qualified capital gains…
Taxpayers that itemize personal deductions instead of claiming the standard deduction may deduct qualifying medical expenses to the extent that such expenses exceed 10 percent of adjusted gross income (“AGI”). Taxpayers that are 65 years or older, or turned 65 during the tax year,…
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