I am a tax accountant with an IRS Enrolled Agent certification that wishes to provide the best tax p
12/22/2018
Check out KPMG's 2019 Personal Tax Planning Guide. It's a very comprehensive look at all of the changes that have been implemented by the Tax Cuts & Jobs Act.
2019 Personal Tax Planning Guide KPMG’s 2019 Personal Tax Planning Guide provides valuable information about the current tax laws and provides planning tips.
11/25/2018
Top five TCJA tax planning opportunities for individuals in 2018 As we enter into the tax planning stage of the year, the focus shifts to helping clients understand the impact of the Tax Cuts and Jobs Act and optimize their tax positions.
The Tax Cuts and Jobs Act was signed into law on 12/22/2017. Here are some items for individuals to consider going into 2018:
1. Seven tax brackets retained; top rate 37%
2. Larger standard deduction; repeal of personal exemptions
3. Retained individual AMT tax with higher exemption amounts
4. New limits on deduction for state and local taxes
5. Expanded child tax credit
6. Elimination of penalty for failure to purchase health insurance (the ACA's individual mandate)
7. All of these (other than ACA mandate change) sunset after the end of 2025
If anyone needs further explanation on any of these items, please respond. Thank you and Happy Holidays!
For anyone in need of tax preparation services in the winter of 2018, please contact me at 347-452-3620 or [email protected]. Thank you.