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Reilly Tax Advisor

IRS waives under-withholding penalties for some taxpayers

Jan 23, 2019

The IRS will waive the penalty for some taxpayers whose 2018 withholding and estimated tax payments fell short.

Reilly Nonprofit Advisor

Changes in medical expense and alimony deductions in 2019

Jan 09, 2019

Medical expense deduction tightens and alimony deduction goes away in 2019.

Crunch time: New tax law reminders for small business owners

Jan 02, 2019

2019 is here, meaning it’s too late to take action to reduce 2018 taxes. It's time for business owners to assess whether they’ll likely owe taxes or get a refund this spring, so they can plan accordingly.

Reilly Tax Advisor

Standard mileage deduction rates for 2019

Dec 18, 2018

The Tax Cuts and Jobs Act (TCJA) has changed the landscape of tax deductions for miles driven for business in your personal car, van or truck.

Reilly Tax Advisor

Does prepaying property taxes make sense anymore?

Nov 27, 2018

Prepaying property taxes related to the current year but due the following year has long been one of the most popular and effective year-end tax-planning strategies. But does it still make sense in 2018?

Reilly Tax Advisor

Business meals still deductible at 50% under IRS guidance

Oct 05, 2018

Good news for those who incur expenses for business meals. At least for now, such expenses still may be deducted on 2018 tax returns at the 50% rate.

Reilly Tax Advisor

Qualified Charitable Distribution could be more valuable to certain taxpayers under TCJA

Aug 14, 2018

The Qualified Charitable Distribution, which survived the Tax Cuts and Jobs Act of 2017, may be even more valuable now to certain taxpayers.

Reilly Tax Advisor

Why new tax law makes ‘kiddie tax’ more dangerous

Jul 24, 2018

Some parents and grandparents put investments in the names of young children or grandchildren to avoid taxes. But under the new Tax Cuts and Jobs Act, the so-called "kiddie tax" has sharper teeth.

Reilly Tax Advisor

Get started on 2018 tax planning now

May 04, 2018

For maximum tax savings, now is the time to start planning for 2018. It’s especially critical to get an early start this year because the Tax Cuts and Jobs Act (TCJA) has substantially changed the tax environment.

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