Personal Finance

This is the first tax year under the Tax Cuts and Jobs Act — an overhaul of the code that doubled the standard deduction ($12,000 for singles and $24,000 for married-filing-jointly in 2018), and eliminated personal and dependent exemptions (formerly $4,050 for yourself, your spouse and each dependent). The law also placed limits on itemized
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This year, experts say, the ongoing government shutdown could generate even more interest, both from affected workers who are running low on financial resources, as well as other taxpayers who worry about refund delays tied to the shutdown and implementation of the new tax rules. The IRS said last week that income-tax filing season would
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Another filing season hiccup is the fact that accountants have been awaiting the final word on regulations that would affect clients’ 2018 returns. For instance, small businesses are holding out for the 20 percent qualified business income deduction. It’s a break for so-called pass-through entities, including sole proprietorships and S-corporations. Accountants are awaiting final regulations
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Personal identity theft can easily become a professional problem. One in 3 identity theft victims say they experienced difficulties at their place of employment, either with their boss or co-workers, as a result of the crime, according an initial analysis of 2017 trends from The Identity Theft Resource Center, a consumer advocate. (The full report
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With the government shutdown now in its third week, financial regulators are urging creditors to work with borrowers who may have seen their paychecks stop. Federal workers unable to meet their mortgages, student loans or credit cards bills should be met with “safe-and-sound” lending practices, wrote a group of agencies, including the Consumer Financial Protection
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