Tax cuts and jobs act
The New Home Mortgage Interest Deduction
By Mark Kohler: The Mortgage interest deduction is a seemingly easy to understand and straight forward tax deduction that will be utilized by millions of Americans when they file their taxes this year. However, it was dramatically changed under the Tax Cuts and Jobs Act of 2017, “clarified” by the IRS in...
How the Tax Cuts and Jobs Act Impacts Mortgage Pre-Payment
The Tax Cuts and Jobs Act (TCJA)made some sweeping changes to a wide range of federal income tax provisions. While not every amendment impacts every taxpayer, those related to the deductibility of state and local taxes (SALT) and the mortgage interest deduction could significantly change the analysis residents use...
Could More Tax Changes Come Before the 2018 Midterms?
Lawmakers in the U.S. House's Ways and Means Committee recently put forward some tax proposals designed to permanently codify some of the temporary changes enacted by 2017's Tax Cuts and Jobs Act (TCJA). Proponents of these changes claim that they'll boost wages for the middle class and add around one and a half...
Writing Off Dining Expenses in 2018
Things have changed in 2018 when it comes to writing off meals and food expenses in your business… Mark Kohler provides us with some information below. Before 2018 business owners were able to deduct 100% certain food or dining items, now they are 50%. Also, there were certain items that were deductible up to be...
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