Today’s blog focuses on several significant changes that will directly impact those of you who have minor children or grandchildren who are college-age or younger. We will explore the Expanded Child Tax Credit and discuss some significant changes to 529 (College Savings) plans. Under the new tax law, the Child Tax Credit has been expanded from $1,000 per qualified child to $2,000 per child (under the age of 17). In… Read More
Changes to Standard and Itemized Deductions
In part two of our four-part blog series discussing the recent income tax changes, we will be looking at the most significant changes to the standard and itemized deductions. After the changes to the overall tax rates that we discussed in the first post, the changes to the standard and itemized deductions could have the greatest impact on your 2018 federal income tax bill. Under the new rules the standard… Read More
Major Tax Changes In 2018
Whenever there is major tax reform, the question on everyone’s mind is, “Will my taxes go up, down, or stay the same? We will try to help you gain insight into what bearing the tax code changes effective in 2018 will have on your personal tax situation. This is the first article in our spring blog series that addresses the recent tax reform bill known as the Tax Cuts and… Read More
