by Accent452023 | Sep 27, 2018 | Medical, Tax Central, Tax Reform, Taxes
The Affordable Care Act (Obamacare) included a “shared responsibility payment,” which in reality is a penalty for not having health insurance. Along with this penalty came a whole slew of exemptions from the penalty, including some that were designated as “hardship”...
by Accent452023 | Sep 20, 2018 | Business, Tax Reform
Article Highlights: 20% Flow-Through Deduction Qualified Trade or Business Specified Service Trade or Business Deduction Table Listing of Service Businesses As part of its recent tax reform, Congress included a new 20% deduction of pass-through income for trades or...
by Accent452023 | Aug 30, 2018 | Tax Central, Tax Planning, Tax Reform
Article Highlights: High-Income Professionals Specified Service Trade or Business Sec. 199A Deduction Defined Contribution Retirement Plans Defined Benefit Retirement Plans Tax Savings If you are a high-income professional who is excluded from the new pass-through...
by Accent452023 | Aug 28, 2018 | Tax Central, Tax Reform, Taxes
Article Highlights: SALT Tax Limits State Work-arounds Converting Tax Deductions to Charitable Contributions IRS Regulations Taxpayer Beware Tax reform has limited the federal itemized deduction for state income and local government taxes (including property taxes),...
by Accent452023 | Mar 12, 2018 | Business, Investment, Tax Reform, Taxes
Note: This is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs Act (referred to as the “Act” in the article), passed late in December 2017, might affect you and your family in 2018 and future years, and offering...