2018 Standard Mileage Rates Announced
Those who track mileage for work will be glad to know the IRS adjusted the 2018 standard mileage rate for inflation. Read more in this week’s Tax Tip.
Tax Cuts and Jobs Act: A Look at Accelerated Depreciation
With the Tax Cuts and Jobs Act, the deduction limit for Section 179 doubles to $1,000,000 for property placed into service after Dec. 31, 2017. For businesses, this is a robust benefit that is likely to stimulate additional growth, as it provides an immediate tax benefit for businesses that purchase anywhere from $1 to $2,500,000 worth of…
Tax Cuts and Jobs Act Promises Big Changes for Businesses
Hosts Bil Lako, CFP®, and Troy Harmon, CFA, CVA, are joined by our Chief Economic Adviser, Roger Tutterow, Ph.D., and delve into a discussion on how the Tax Cuts and Jobs Act changes for businesses and corporations may affect the economy. They discuss how companies may take advantage of corporate tax rates, the repeal of corporate AMT, the reduced tax rate for repatriated profits, and accelerated depreciation.
Alternative minimum tax back to targeting the very rich
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains the changes the Tax Cuts and Jobs Act made to Alternative Minimum Tax. Read the Article
Nine Ways to Start a Business Budget to Spur and Guide Growth
Business owners: Read nine key ways to create an effective budget that can spur and guide the growth of your company in this week’s Business Tip.
New Tax Law Cracks Down on Home Mortgage Interest
With the Tax Cuts and Jobs Act, Congress has yanked the rug out from under those with equity debt on their homes. (It’s no longer deductible!) We explain in this week’s Tax Tip.
Alternative Minimum Tax – Back To Targeting the Very Rich
If you are subject to AMT, you may see your AMT calculations more closely resemble your standard tax liability calculations because of the changes to how your standard tax liability is calculated and the higher exemptions for AMT. Read the Article on Sean Hannity’s website This article is for demonstrative and academic purposes and is…
Alternative Minimum Tax: A Simplified Example
The Tax Cuts and Jobs Act made changes to medical deductions, state and local taxes, home mortgage interest, miscellaneous itemized deductions, personal exemptions and standard deductions—some of which may have triggered AMT for the average taxpayer. hensslervideo_personalfinance
Alternative Minimum Tax—Back To Targeting the Very Rich
Troy Harmon, CFA, CVA, is joined by Managing Associates, Shawna L. Theriault, C.P.A., CFP®, CDFA®, and K.C. Smith, CFP®, to discuss how the Tax Cuts and Jobs Act changed the game for middle income taxpayers who may have been subject to alternative minimum tax in the past. With higher exemptions and phaseouts, far fewer people will pay AMT.
Medical Deductions & The New Tax Law
Those with substantial medical bills will be delighted to learn that medical deductions were retained in the Tax Cuts and Jobs Act, and the AGI floor was lowered to 7.5% for 2017 and 2018. We explain in this week’s Tax Tip.