February highlights from The MWE Advisor: six valuable tax breaks that will soon disappear, a list of deductions that survived, and three recently suspended health care related credits.
6 Last-Chance Tax Breaks: Do You Qualify?
The IRS is now accepting tax returns for 2017. But many people are uncertain how the new tax law will affect their 2017 taxes. As a general rule, it’s a good idea to maximize any deductions that are available to you for 2017, because some of them are repealed, suspended or modified under the new law for 2018. Here are six valuable breaks that will soon disappear, along with a list of deductions that survived tax reform.
3 Affordable Care Act Taxes Postponed by Congress
A short-term government funding bill, which was signed into law recently, suspends three health care related taxes. These are the 40% Cadillac tax on employers that offer generous health insurance coverage, the 2.3% medical device tax and an annual excise tax on health insurance providers. Here are the details, including an update about the health coverage mandates for individuals and certain employers.