With the end of the year approaching, it’s a great time to look at your current tax strategies to make sure they are still meeting your needs going into the new year and to also take any last-minute steps that could potentially lower your current and future tax bill. In this article we will discuss the major changes that happened in 2017 with the Tax Cuts and Jobs Act (TCJA) for individuals that may impact your current tax situation as well as tax planning strategies to implement for this year and the next.
Read More
Effective July 1, 2019, the Louisiana State Treasurer’s Office no longer accepts printed submissions of unclaimed property. This is to protect the security and privacy of individuals where personal identification information is included in the paper transmissions.
Read More
Louisiana passed a new law in June responding to federal tax changes that capped individual state income tax deductions and increased the standard deduction.
Read More
The underpayment penalty waiver threshold is lowered from 90% to 85% of 2018 tax liability to help those who have under-withheld because of the tax reform law. It will also apply to individuals making quarterly estimates, but not to corporations.
The standard mileage rate has been increased to 58 cents/mile for 2019 along with adjustments to the charitable and medical mileage rates.
The agency announced tax season will begin January 28 with the released update to its contingency plans for government shutdowns and the expected impacts of a continuing shutdown on the tax filing season.
Read More