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UPDATES&INSIGHTS: TAX – September 2018

UPDATES&INSIGHTS:TAX is a HoganTaylor Tax practice publication designed to help you keep up with the latest tax issues impacting your organization.

In this issue, you will learn learn about the silver lining behind the Tax Cuts and Jobs Act, Section 529 plans, spouse-owned businesses, self-employment taxes, and the tax implications of bartering.

In This Issue:

TCJA Draws a Silver Lining Around the Individual Alternative Minimum Tax

The Tax Cuts and Jobs Act (TCJA) didn’t eliminate the individual alternative minimum tax (AMT). But the law did draw a silver lining around it. Revised rules now lessen the likelihood that many taxpayers will owe substantial taxes under the AMT for 2018 through 2025. This article explains why. Read More

Study Up on the Tax Advantages of a 529 Savings Plan

With kids back in school, it’s a good time for parents (and grandparents) to think about college funding. One option is a Section 529 plan. This article explains why these savings vehicles are always top of mind for those looking for a tax-smart way to fund college costs. Read More

Spouse-Owned Businesses Can Reduce Self-Employment Taxes

Spouses who own profitable, unincorporated businesses often find the high self-employment (SE) tax bills burdensome. Fortunately, there may be ways to ease that burden. This article suggests two ways that spouse-owners can lower their tax bills. Read More

When is Bartering Taxable?

The notion of bartering may conjure an image of a crowded, bustling medieval bazaar. But these types of transactions continue to occur in today’s high-tech modern world. This brief article discusses whether and when bartering is taxable. Read More