Tax Cuts and Jobs Act Enhances the Child Tax Credit

Child tax credit now higher, more widely available The Tax Cuts and Jobs Act (TCJA) of 2017 has been touted by its proponents as an across the board tax cut with specific benefits for “middle class families”. There is a long history of tax benefits for families with...

Guarding Against Identity Theft

Take steps so criminals won’t take vital information from you.  America is enduring a data breach epidemic. The latest annual study of the problem from Javelin Strategy & Research, a leading financial analytics research firm, says that 16.7 million people across...

The Major 2018 Federal Tax Changes

Comparing the old rules with the new. The Tax Cuts and Jobs Act made dramatic changes to federal tax law. It is worth reviewing some of these changes as 2019 approaches and households and businesses refine their income tax strategies. Income tax brackets have changed....

How New Tax Laws Affect Small Businesses

A recap of the major changes impacting corporations and closely held firms. The Tax Cuts & Jobs Act changed the tax picture for business owners. Whether your company is incorporated or held closely, you must recognize how the recent adjustments to the Internal...

The Medical Expense Deduction in 2018

Tax reform has lowered the threshold.   If you itemize, you should note the reduced medical deduction threshold for 2018. This year, you can deduct qualified medical expenses exceeding 7.5% of your adjusted gross income. Next year, the threshold for the medical...