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This is part 4 in a 5 part series about the Tax Cuts & Jobs Act. By Travis McMurray One of the most significant provisions in the new tax law is the dramatic increase in the standard deduction. This change alone will simplify tax filings for many taxpayers. However, for taxpayers who will still be […]
This is part three of a five part series about the Tax Cuts and Jobs Act. The number of taxpayers who itemize deductions on their federal tax return — and, thus, are eligible to deduct charitable contributions — is estimated by the Tax Policy Center to drop from 37% in 2017 to 16% in 2018. […]
This is part 2 of a four part series about the Tax Cuts and Jobs Acts. You can find part one here. The Tax Cuts and Jobs Act (TCJA) generally reduces individual tax rates for 2018 through 2025. It maintains seven individual income tax brackets but reduces the rates for all brackets except 10% and […]