Like it or not, it’s tax season and the days are fast approaching where you’ll need all your receipts and additional paperwork together so that you can have a stress -free experience with your tax preparer.

Check out the article here.

This is the first tax year under the Tax Cuts and Jobs Act — an overhaul of the code that doubled the standard deduction ($12,000 for singles and $24,000 for married-filing-jointly in 2018), and eliminated personal and dependent exemptions (formerly $4,050 for yourself, your spouse and each dependent).

It’s tax season! Call RSG Accounting Services for all your bookeeping, accounting and tax service needs.

The law also placed limits on itemized deductions, including a new $10,000 cap on state and local tax deductions.

Filers with children will also notice the child tax credit is now $2,000 per kid under age 17. Though the amount of the credit is up from $1,000 per child, this boost is only in effect from 2018 to 2025.

SOURCE

For more related stories on finance on Urban Media Today, click here!

For social media marketing, special events, and business/brand promotion, log onto www.Nice2MediaMarketing.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.