Podcast: Standard Deduction vs. Itemizing
The Tax Cuts and Jobs Act increases the standard deduction, but it also eliminated personal exemptions beginning in 2018. There have been many planning ideas that we have used in the past for taking advantage of both the standard deduction and the itemized deductions...
Podcast: New (But Temporary) Income Tax Brackets
As part of the TAX CUTS AND JOBS ACT OF 2017, the IRS made temporary changes to the individual tax rates beginning in 2018. There was talk of decreasing the number of brackets, but the new law keeps the number of brackets the same at seven. Click the orange circle...
Podcast: Explanation of Child Tax Credit Changes
The child tax credit received some big changes as a result of tax reform. Click the orange circle button to listen to this five-minute podcast. Script The “TAX CUTS AND JOBS ACT OF 2017” made significant changes to the Child Tax Credit. In summary, the tax bill that...
The New Deal on Employee Meals (and Entertainment)
Years and years ago, the notion of having a company cafeteria or regularly catered meals was generally feasible for only the biggest of businesses. But, more recently, employers providing meals to employees has become somewhat common for many midsize to large...