by LeAnne Perkowski | Nov 30, 2018 | Melinda's blog
DECEMBER 2018 December 17 Employers. For Social Security, Medicare, withheld income tax, and nonpayroll withholding, deposit the tax for payments in November if the monthly rule applies. Corporations. Deposit the fourth installment of estimated income tax for 2018. A...
by LeAnne Perkowski | Nov 29, 2018 | Melinda's blog
From Melinda May, CPA | Featherstone A major feature of the TCJA is the reduction of income tax rates owed by individuals. For example, married couples filing jointly for 2018 may have taxable income up to $77,400 and remain in the 12% bracket, up to $165,000 and stay...
by LeAnne Perkowski | Nov 22, 2018 | Melinda's blog
From Melinda May, CPA | Featherstone This year has been a roller coaster for investors, with good months followed by steep pullbacks. At this point, you may have taken some gains and losses in your taxable accounts during 2018; you also may have unrealized losses as...
by LeAnne Perkowski | Nov 17, 2018 | Melinda's blog
From Melinda May, CPA | Featherstone Under the TCJA, equipment expensing permitted by Section 179 of the tax code was expanded. In 2018, your business can take a first-year deduction of up to $1 million worth of equipment purchases. You might buy, say, $400,000 worth...
by LeAnne Perkowski | Nov 12, 2018 | Melinda's blog
From Melinda May, CPA | Featherstone More taxpayers are likely to take the standard deduction for 2018, rather than claim itemized deductions. Therefore, they’ll lose the tax benefits from their charitable contributions. Example 1: Art and Beth Dean are in their 40s...
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