2018

A 3-hour seminar will be held Thursday, December 6th from 1 – 4 pm (check-in begins at 12:30) at the Kirkwood Hotel. This seminar will cover topics focused on individuals, real estate owners, and business owners.

The Tax Cuts & Jobs Act (TCJA) made significant changes to the calculation of the kiddie tax effective January 1, 2018. The purpose was to simplify the calculation by not having the parent’s tax rate and income be a part of the calculation. This was somewhat accomplished by removing the parent’s tax income and tax rates from the calculation, but other changes have made it more complex.

The Tax Cuts and Jobs Act of 2017 brought the largest changes to both individual and corporate taxes that we have seen in the past 30 years. Included in those changes was IRC Section 199A, which permits business owners to deduct up to 20% of the “qualified business income (QBI)” earned in their “qualified trade or business.”

Withdrawals from 529 plans are not taxed at the federal level, as long as you understand and follow the rules. To the extent you withdraw an amount less than or equal to your payments for qualifying higher education expenses (QHEE) in the same calendar year, there is no income taxed on the 529 distribution.

The Tax Cuts and Jobs Act (TCJA) does a complete “180” to the tax treatment of alimony payments.

Is enough being withhold from your paycheck?

In 1987, I decided it was time to hire an additional member of the team. A friend strongly recommended a young lady named Patty Davidson. I hired her on the spot. Looking back, I had no idea what an important decision I was making that day.

Every year, Medicare’s open enrollment period is October 15 to December 7, for coverage that is effective January 1st. Medicare health and drug plans can make changes each year—things like cost, coverage, and which providers and pharmacies are in their networks. October 15 to December 7 is when all people with Medicare can change their Medicare health plans and prescription drug coverage for the following year to better meet their needs.

We are hosting multiple free seminars to cover topics related to the Tax Cuts and Jobs Act that will impact you. Please review the topics, dates and time. Registration details are below.

Often lost in the excitement of large-scale tax changes is how they can negatively impact some individual situations. Check out these questions to see if you might be in for a tax surprise this year.