The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here's a look at some of the more important elements of the new law that have an impact on individuals. Unless otherwise noted, the changes are effective for tax years beginning in 2018 through 2025.
By Shawn Baxter
Manager, Centralized Compliance Controls
The recently enacted Tax Cuts and Jobs Act (“TCJA”) is a sweeping tax package. Here's an overview of some of the more important business tax changes in the new law. Unless otherwise noted, the changes are effective for tax years beginning in 2018.
Deductibility of interest on “acquisition debt.” Taxpayers may deduct interest on mortgage debt that is “acquisition debt.” Acquisition debt means debt that is: (1) secured by the taxpayer's principal home and/or a second home, and (2) incurred in acquiring, constr
Provided by: Nate Kilton, CPA/PFS, CFP®, MBA, REALTOR®
Dear Client,
Provided by: Nate Kilton, CPA/PFS, CFP®, MBA, REALTOR®
Dear Friends and Clients,
Provided by: Nate Kilton, CPA/PFS, CFP®, MBA, REALTOR®
President Donald Trump signed the Tax Cuts & Jobs Act into law on December 22, and on January 1, some key details of the Internal Revenue Code will abruptly change.1
Provided by: Nate Kilton, CPA/PFS, CFP®, MBA, REALTOR®
Provided by: Nate Kilton, CPA/PFS, CFP®, MBA, REALTOR®
About 70% of taxpayers receive sizable refunds from the Internal Revenue Service. Just how sizable? The average refund totals about $2,800.1
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