2020 is a presidential election year. You'll have an opportunity to cast a vote for your favored presidential candidate in November, but you can make several other key "elections" this year when filing your 2019 tax return. These elections may be influenced by the Tax Cuts and Jobs Act (TCJA), as well as the year-end spending package that was signed late last year.

The Setting Every Community Up for Retirement Enhancement (SECURE) Act contains a number of favorable provisions that will help Americans save more for retirement. However, the new law also contains an unfavorable provision that will affect nonspouse IRA beneficiaries who inherit accounts with substantial balances. As a result, some carefully constructed estate plans will be diminished.

On December 20, President Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. It was part of the Further Consolidated Appropriations Act federal spending package.

The FICA tax calculation is comprised of two components: Social Security (SS) and Medicare (MDCR). The federal unemployment tax wage base will remain the same for 2020.

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was mainly intended to help individuals save more for retirement. But the new law also contains provisions that help simplify the administration of retirement plans for employers and allow more employees to participate in 401(k) plans. Here are some provisions that may affect business owners.

On December 20, President Trump signed into law the annual government spending package, which includes amendments to the tax law, the repeal of certain Affordable Care Act (ACA) taxes and various retirement measures. Here's an overview of key changes that will affect businesses and individual taxpayers.

This week marked the 4th National Tax Security Awareness Week. A joint effort between the Internal Revenue Service, state tax agencies, and the nation’s tax industry, this week seeks to raise awareness among taxpayers regarding the importance of online security awareness steps that everyone should take to safeguard their personal information.

Nearly everyone should consider updating his or her estate plan. This is smart advice even if you're not currently exposed to the federal estate tax.

Have you been contributing enough in 2019 to your employer’s 401(k) plan or Roth 401(k)? Here are the contribution limits for this year and the just-announced limit for 2020.

Business owners who hold a business-related debt that’s become worthless or uncollectible may be able to claim a “bad debt” deduction. But there are a few hoops to jump through and not all debts are eligible. This article examines those hoops and touches on the accounting concept of “charge-offs” when it comes to business bad debts.