Call Now for a Free Consult! 208-659-9339

Most significant 2018 Tax Changes

2018 will carry the most significant tax change in 30 years. See a brief summary below and plan ahead!!!

  • Slightly lower tax rates affecting most brackets and short-term capital gains
  • Standard Deduction and Personal Exemption
  • Mortgage Interest Deduction Reduction and Funds Usage Adjustment
  • Charitable Contributions Deduction Increase
  • Medical Deduction
  • $10,000 cap on SALT (State and Local Tax) Deduction

Removal of:

  • Casualty and theft losses (except those attributable to a federally declared disaster)
  • Unreimbursed employee expenses
  • Tax preparation expenses
  • Other miscellaneous deductions previously subject to the 2% AGI cap
  • Moving expenses
  • Employer-subsidized parking and transportation reimbursement
  • ACA Penalties still in effect until 2019
  • Addition of 199A Business Deduction (20% qualifies business income deduction for pass-through entities)
  • Change to NOL Carryovers

2 Comments

  1. this post. on November 8, 2018 at 4:56 am

    Excellent website. A lot of helpful infоrmation here.
    Ӏ wіll ƅe sending іt tօ a feѡ pals ans additionally sharing іn delicious.
    And certainly, thanks on yoսr effort! http://www.informatorbrzeski.pl/feleitony/zabezpieczenie-okien-przed-wiatrem-i-zimnem/

  2. this post. on November 8, 2018 at 4:56 am

    Excellent website. A lot of helpful informatiоn heгe. I ԝill
    be sеnding it to а few pals anns additionally sharing іn delicious.
    And certаinly, thanks on your effort! http://www.informatorbrzeski.pl/feleitony/zabezpieczenie-okien-przed-wiatrem-i-zimnem/

Leave a Comment