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.
The Tax Cuts and Jobs Act made some significant changes for businesses, including lower corporate tax rates, provisions for pass-through entities, expanded Section 179 expensing and bonus depreciations, and provisions for foreign income. We explain in this week’s Business Tip.
In Today’s Marietta Daily Journal, Bil Lako, CFP®, explains the changes to the Kiddie Tax that discourages parents from shifting income-producing assets to a child. Read the Article
529 Plan account owners can now transfer funds without federal tax consequences from a 529 plan to an ABLE account, a tax-advantaged account for disability-related expenses for individuals who become blind or disabled before age 26. We explain in this week’s Financial Tip.
Managing Associate, D.J. Barker, CWS®, joins anchors Troy Harmon, CFA, CVA, and Shawna Theriault, C.P.A., CFP®, CDFA®, to discuss how the Tax Cuts and Jobs Act changed the Kiddie Tax and highlight what you need to know if your child has unearned income.
As an entrepreneur, there’s nothing as exciting as opening the doors for the first time. Before the grand opening, here are few steps you need to do first. We explain in this week’s Business Tip.