Category Archives: Syndicated 1

Changes to Benefits for Dependents. Deduction for personal exemptions are suspended.For 2019, you cannot claim a personal exemption deduction for yourself, your spouse, or yourdependents.Child Tax Cre...

Capital Gain and Qualified Dividend Maximum Tax Rates. For 2018, the breakpoints no longer follow the tax brackets for regular income tax purposes. The breakpoints are as follows: Single Taxable Incom...

Entertainment Expense Deduction. For 2018, the new law provides that no deduction is allowed with respect to: 1) An activity generally considered to be entertainment, amusement or recreation, 2) Membe...

Depreciation Section 179 Expense Deduction. For 2018, the new law increases the maximum amount a taxpayer may expense under Section 179 to $1,000,000 and increases the phase-out threshold amount to $2...

Deduction for Qualified Business Income (Pass-Through Entity Deduction). For 2018, an individual taxpayer generally may deduct 20% of qualified business income from a partnership, S corporation, or so...

Section 529 Qualified Tuition Programs. Effective 2018. 529 plans can allow distributions of up to $10,000 per-student to pay tuition expenses for a public, private, or religious elementary or seconda...

Deduction and Exclusion for Moving Expenses Suspended. The deduction for moving expenses is suspended. During the suspension, no deduction is allowed for use of an automobile as part of a move. This s...

Changes to Itemized Deductions. In addition to nearly doubling standard deductions, the TCJA changed several itemized deductions that can be claimed on Schedule A, Itemized Deductions. You may not tak...

Tax Cuts and Jobs Act (TCJA). There are many changes for 2018 due to the TCJA bill that was passed in December of 2017. Some are good and some are bad. To help you get organized and not miss any new c...

THE WINNING BID: $1510.00 Jim B. Radio Bloomington and the American Red Cross want to make sure that you have an unforgettable evening at the 2017 Evening of Stars This event will feature 2016 World S...