While both the President and Congress are beginning to work on tax reform and hopefully simplification, the State of IL passed a new tax bill in July which will definitely impact the upcoming tax season. And while many of the tax laws passed in 2014 and 2015 as well as the health insurance credits and/or penalties are still with us for now, many of us have had either life or investment changes - including death, inheritance, marriage, divorce, retirement, IRA withdrawals, stock and mutual fund sales etc. which can make preparing your taxes more tricky. In addition, the major problems with identity theft and IRS phony calls have been concerning many taxpayers.
In this workshop, Judi will review the key elements of the tax code effective for 2017 taxes - both for the IRS and IL - as well as the increasingly complex rules for sales of stock and mutual funds and Form 8949 as well as the revised Schedule D. She will also discuss important deductions such as medical and contributions - and common tax problems, including IRA withdrawals, K-1s from Trusts and Estates, Estimated taxes, and taxable Social Security. She will focus on tax issues many of us have moving toward or in retirement as well as when someone you love passes on.
Contact Melissa at email@example.com or (630) 960-1200 with questions.