Blog Posts in February, 2018

Tax Cuts & Jobs Act: Brief Overview

2018 Individual Income Tax Changes Tax rates reduced and brackets increased Standard Deduction “Doubled” Married, filing jointly increased from $13,000 to $24,000 Single, increased from $6,500 to $12,000 Exemptions for taxpayer and dependents of $4,150 each – eliminated Deduction for State & Local Taxes – limited to $10,000 Deduction for Mortgage Interest – mortgages limited to $750,000 vs. ...