2018 Year-End Tax Planning

As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. Year-end planning for 2018 takes place against the backdrop of a new tax law — the Tax Cuts and Jobs Act — that make major changes in

How The New Tax Law May “Drive” Your Decision Making

The Tax Cuts and Jobs Act revamped tax depreciation in several ways, one in particular being the way vehicle depreciation limits are calculated. Below is a summary of the vehicle depreciation limits prior to the new tax law vs. the vehicle depreciation limits under the new tax law. Pl

What You Need to Know About Residential Energy Credits

When you switch to a Solar Energy System or make any energy saving improvements to your home, residential and commercial owners are allowed a credit of up to 30 percent of the cost of the system, as well as installation. The credit is 30 percent from 2016-2019, but then continually dr

Deducting Mortgage Interest Under the New Tax Law

The Tax Cuts and Jobs Act (TCJA) made significant changes to the tax law. One of the many changes is the deductibility of home mortgage interest. Before the change, taxpayers could deduct mortgage interest on debt up to $1,000,000, plus an additional $100,00 for home equity debt. The

Tax Withholding Adjustments

The tax reform legislation passed by Congress significantly changes the landscape for individuals effective January 1, 2018 and for several years thereafter. For many taxpayers, the changes made by the legislation present many tax planning challenges and opportunities. While the tax r