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Summer Job Tax Tips

Jul 03, 2018

It’s almost July 4th and for teens and young adults taking summer jobs, it’s time to gain experience, earn some cash and learn a bit about adulthood. And one of the best grown-up subjects to start with? Taxes.

Whether you’re new to summer work or been at it for years, here are eight tax tips you n...

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Individual Retirement Accounts (IRAs) offer favorable tax-deferral benefits to individuals who are saving for retirement. But with those benefits, there are certain rules about when distributions may be taken to avoid penalty taxes. Contributions to a traditional IRA, depending on your income and pa...

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The Detailed Provisions to Know

The Tax Cuts and Jobs Act, a measure that has been characterized as the first major reform of the Internal Revenue Code in 31 years, received final approval from the House and the Senate on December 20, and was signed into law by President Trump two days later on De...

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What is Not Changing

On January 1, 2018, the most sweeping overhaul of the US tax system –the Tax Cuts and Jobs Act– went into effect. While the bill is over 500 pages long, let’s briefly examine items not changing. But please keep in mind that this summary is in no way comprehensive nor is it mea...

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Directly from the Committee on Ways and Means

Five days before Christmas, the Senate passed the "Tax Cuts and Jobs Act" by a party-line vote of 51 to 48, with Republican Senator McCain absent for medical reasons. No matter your political affiliation, almost everyone agrees that is the most swee...

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When planning for retirement, most Americans think mainly about using tax-advantaged savings vehicles like 401(k) or individual retirement accounts, while failing to consider the triple tax advantages associated with saving for future health care costs using a health savings account, or HSA.

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