529 Plans: 2018 Tax Law Changes
For parents or grandparents, 529 plans can be a smart way to save for schooling. Here are recent legislative changes: Saving– Annual contribution limits double in 2018 from $2,000 to $4,000 per beneficiary. Paying for expenses– Beginning in 2018, 529...
First-Time Abatement: An IRS Hidden Treasure
Have you received a notice from the IRS, stating you owe money and/or have had penalties and interest applied? The IRS sends thousands of these letters to taxpayers every year. At Nichols & Company, we always recommend you send a copy of your notice to us and let...
I moved — Are any of my expenses tax deductible?
Good news! If your move was job-related, you could be looking at some tax deductions. Here are some helpful tips to determine what is relevant: -The move must be within a year of your start date at the new job. -Your new job must be at least 50 miles farther from your...