Tax expert Lance Weiss answers questions on taxes, new forms, more | St. Louis Public Radio

Tax expert Lance Weiss answers questions on taxes, new forms, more

Dec 20, 2018

Tax expert Lance Weiss talks about actions people can take before the end of the year to minimize their tax liability for 2018.
Credit Lara Hamdan | St. Louis Public Radio

As the end of the year approaches, it’s time to reconnect with St. Louis on the Air’s go-to tax expert for tips. On Thursday’s show, host Don Marsh talked with Lance Weiss, a CPA and partner with SFW Partners, LLC, about actions people can take before the end of the year to minimize their tax liability for 2018.

Weiss also addressed the new tax forms to be issued, stating that “the new 1040 is significantly different looking than it was, and gone are the 1040EZ forms or 1040A forms; so no more short form or simplified form.”

Weiss explained further:

  • Easy and difficult tax returns
  • Itemizing deductions
  • Tax implications on student loans
  • New qualified business income deductions
  • How to file taxes from investments
  • Individual retirement accounts and deferring income

Listeners called in with their specific tax questions on:

  • Itemizing deductions as a married couple
  • When to file as a married couple and when to file separately
  • Moving a 401K to an Individual Retirement Account (IRA)
  • Default rule on interest and home equity line of credit
  • Taxes on incomes from “non-traditional jobs” like Uber and Lyft

Listen below for more details on the new tax forms and more:

St. Louis on the Air brings you the stories of St. Louis and the people who live, work and create in our region. St. Louis on the Air host Don Marsh and producers Alex HeuerEvie HemphillLara Hamdan and Xandra Ellin give you the information you need to make informed decisions and stay in touch with our diverse and vibrant St. Louis region.