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Chief Content Officer
Kiplinger Washington Editors
McCormally joined Kiplinger in 1977 as a reporter specializing in taxes, retirement, credit and other personal finance issues. He has won several awards for his work and appears regularly on radio and TV to discuss these issues. He is the author and editor of many books, helped develop and improve popular tax-preparation software programs, and has written and appeared in several educational videos. In 2005, he was named Editorial Director of The Kiplinger Washington Editors, responsible for overseeing all of our publications and Web site. At the time, Editor in Chief Knight Kiplinger called McCormally "the watchdog of editorial quality, integrity and fairness in all that we do." In 2015, Kevin was named Chief Content Officer and Senior Vice President.
The new tax law rewards retirees and others running side gigs and small businesses with a 20% tax deduction on qualified business income.
See More From: Tax Breaks
Protect yourself from accidentally increasing your 2017 taxes by being misled by a member of the 1099 family.
See More From: Tax Prep & Filing
All the hoopla about the tax law signed by President Trump can obscure a sneaky little secret: The rules pertaining to the 2017 tax return you're working on now are almost exactly the same as they were ...
You have to hand it to the U.S. Congress. Where else, in the middle of the night, with the government briefly shut down for lack of funds, would a group of men and women bring back to life tax incentives ...
A hallmark of the new tax law signed by President Trump just before Christmas is the new structure for tax rates and tax brackets that took effect January 1. The latest tax overhaul is the most signif...
See More From: Tax Planning
The new policy goes into effect in 2019. Older divorces can be modified to follow the new rules—if both parties agree.
See More From: Tax Tips
Still want to tap your home equity and deduct the interest? Options remain.
Those paying the kiddie tax are in for higher rates that kick in at lower levels — but capital gains are still favored.
Though the new tax law makes sweeping changes to our system, it will have almost no effect on your 2017 filing—except that this could be your last chance to take advantage of some of these too-often ...
The rush is on to try to figure out what’s in all the nooks and crannies of the most sweeping tax overhaul in three decades. Lawyers, accountants and plain old taxpayers are looking for ways to take ...
Tax lawyers, accountants and financial planners are burning the midnight oil trying to figure out all the ins and outs of the new tax law. The men and women of the IRS, given less than two weeks between ...
The upcoming blizzard of little 1099 tax forms (which report various sources of "income" to the IRS) brings two key dangers:
1. Losing one that contains key information that needs to go on your 2017 ...
Lower inflation adjustments mean smaller annual increases in tax brackets, standard deductions and other breaks.
The new rules will be the subject of hot political debate in eight years (or sooner).
Though the exemption remains the same, the rates are quite different.
The rise in the standard deduction means far fewer people will be deducting mortgage interest.
Forget about deducting management fees and tax-prep costs. But margin interest you still get.