Tax planning

The standard deductions and personal exemptions will rise slightly.

President Donald Trump sought to rally support for his effort to overhaul the nation’s tax code on Tuesday at a conservative policy group that helped write the plan.

Treasury Secretary Steven Mnuchin said the stock market will probably see its gains wiped out if lawmakers fail to deliver planned tax cuts that will benefit corporate America.

KPMG has released its 2018 Personal Tax Planning Guide with information about the current tax laws and guidance to help privately held businesses, business owners and their families deal with the uncertainty of upcoming tax reforms.

The Social Security Administration said it would provide a 2.0 percent cost of living adjustment in 2018, the biggest increase since 2012.

Certain transactions will be subject to new guidelines, and more questions.

Taxpayers who have decided to convert a traditional IRA into a Roth IRA may be wondering if they should take the plunge now and pay tax on the conversion this year, or wait till next year when tax rates may be lower under the reform plan Congress will reportedly consider this fall.

Even the most drastic changes to the Internal Revenue Code won’t diminish accounting and tax pros’ needs for tools that deliver in-depth, accurate info.

The White House is showing “softness” on ending a $1.3 trillion federal tax deduction filers get for their state and local taxes, Senator Bob Corker said Monday, warning that it raises questions about the GOP’s “intestinal fortitude” and could imperil a tax overhaul.

Trump isn’t tied to eliminating the break, which is popular in states with high rates, like New York, New Jersey and California.